ADDvantage Technologies Group, Inc. (NASDAQ:AEY) (“ADDvantage Technologies” or the “Company”) today announced that wholly owned subsidiary, Fulton Technologies (“Fulton”) Inc., has executed new multi-year agreements with some of the largest optical communications OEMs in the United States. Under the new agreements, the Broadband division of Fulton Technologies is now authorized to provide fiber design, engineering, and construction services throughout the United States.
Since announcing the expansion of Broadband services provided by Fulton at the end of June, the Company continues to work aggressively in serving the needs of carriers to expand broadband services to both unserved and underserved populations. These new agreements will provide opportunities to improve upon legacy deployment methods via additional training, education, and technology improvements.
“Working directly with broadband service providers is vital to understanding design considerations, technology decisions, and deployment timelines,” commented Brian Davidson, Chief Revenue Officer of ADDvantage Technologies. “Our collective push as a business to also align with manufacturers in this space provides additional value to our customers. We see numerous benefits in promoting a healthy relationship between all the parties involved in the deployment supply chain.”
Carl Morin, VP Broadband Deployment from Fulton Technologies stated, “Our strategic approach to working with some of the largest manufacturers in the fiber deployment space will provide long-term recurring value. Improving field metrics and response times are always front and center, but our approach to working collaboratively with all parties involved in the supply chain will ensure high customer success. We are very focused on ‘customer satisfaction’ ratings and these new agreements will support our efforts.”
The future of America depends on universal and reliable connectivity. With the enactment of the federal $1.2 trillion Infrastructure Investment and Jobs Act (IIJA), resources are becoming available to deploy broadband infrastructure to help close the digital divide. The IIJA provides the single largest one-time federal broadband investment in history with over $65 billion in funding. Prior to the IIJA, the Rural Digital Operating Fund (RDOF) was enacted to disburse up to $20.4 billion in two phases over 10 years. The combined commitment of these two national programs will have a positive impact in bringing fixed broadband to millions of homes and businesses across the country.
