InterCloud Systems Gets $4.1 Million New Contract

InterCloud Systems, Inc.

revealed that it was recently granted more than $4.1 million in new contracts for professional services in respect of the next generation network upgrades for new, as well as, the existing clients. According to the company, a majority of the work is expected to commence immediately. The company's CEO, Mark Munro, commented: "Our business is robust as next generation Wi-Fi and DAS network deployments are on the rise. Our managed services group has also seen an increase in new business. We also see new opportunities for Software Defined Networking (SDN) and Network Function Virtualization (NFV) on the horizon and expect solid growth in this emerging space, along with our professional and managed services, throughout the remainder of 2016." He continued to add that "Our shareholders should know that we continue to see an influx of new business as we work diligently with our new auditor to complete our 2015 10-K and first quarter of 2016 10-Q filings. Our new auditor has committed enough resources to enable an expeditious completion of such filings." Following the news, the stock traded 4.93 percent higher on Friday.