InterCloud Systems Awarded New Contracts Valued at Approximately $2.4 Million
SHREWSBURY, N.J., March 10, 2017 (GLOBE NEWSWIRE) -- InterCloud Systems, Inc. (the "Company" or "InterCloud") (OTC:ICLD), a leading provider of networking orchestration and automation solutions and services, today announced that it was recently awarded approximately $2.4 million in new contracts for professional services for new and existing customers. A majority of the work is expected to begin immediately.
Mark Munro, CEO of InterCloud Systems stated: “We have announced previously that we have undertaken measures to reduce our operating expenditures, divest ourselves of non-core assets and strengthen our balance sheet. Notwithstanding these belt tightening measures, our subsidiaries continue to drive revenue and receive new contracts from some of the world’s largest service providers and enterprise customers.”
Mr. Munro continued: “We will be releasing our financials for the period ending December 31, 2016 next week. We believe that our cost cutting measures and recent debt reductions will help the Company present a stronger balance sheet and achieve a positive near term impact.”
InterCloud Systems, Inc. is a leading provider of networking orchestration and automation, for Internet of Things ( IOT ), Software Defined Networking (SDN) and Network Function Virtualization (NFV) environments to the telecommunications service provider (carrier) and corporate enterprise markets through cloud solutions and professional services. InterCloud's solutions offer enterprise and service-provider customers the opportunity to adopt an operational expense model by outsourcing network deployment and management to InterCloud rather than the capital expense model that has dominated in recent decades in IT infrastructure managem
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