InterCloud Awarded Up to $7 Million in New Services Contracts
The contracts are with wireless OEM that will deploy the cloud and virtualization as part of its expansion strategy.
InterCloud Systems, Inc. has announced that its Professional Services Group has signed multiple new contracts. InterCloud expects these contracts to generate between $3.5 million and $7.0 million in revenue in 2014, based on certain milestone completions.
The new contract awards include a contract with a wireless original equipment manufacturer (OEM) to manage 4G/LTE wireless network upgrades and network expansions. InterCloud will also provide maintenance services as part of the contract. Under the terms of the second contract award, InterCloud will provide professional services for network engineering, project management and other senior technical classifications required to support a major carrier's network expansions.
According to Jake Saunders, VP at ABI Research, "In 2013, mobile capital expenditure is likely to surge 4.9% to $10.5 Billion as North American operators continue upgrading their networks." As further evidence of substantial network investments, AT&T announced plans in November 2012 to invest as much as $14.0 billion in network upgrades, with $8.0 billion earmarked for its wireless networks alone, over the next three years.
"Wireless carriers continue to expand and upgrade their networks, including the deployment of "Cloud" and virtualization as part of their expansion strategy, resulting in robust demand for our services," stated Mark Munro, CEO of InterCloud. "These newest contract awards, all with new enterprise clients, are yet another major step forward for InterCloud and further expands and strengthens our position as a leading service provider in the massive wireless industry."