NEW YORK, Aug. 17, 2015 (GLOBE NEWSWIRE) -- InterCloud Systems, Inc. (the "Company" or "InterCloud") (Nasdaq:ICLD), a leading provider of cloud networking orchestration and automation solutions and services, today announced that it has been selected by one of the world's largest Tier 1 communications service providers based in the United States as a prime vendor to deliver outsourced professional services and support for their wireline and wireless next generation voice, data, and transport infrastructure solutions. The selection process was based on delivery capabilities, geographic reach, technology support capabilities, and performance evaluations.
The contract term is for three years with two one-year options, and is projected to be worth at least $9 million during the base term, with expansion to over $15 million. The contract award is effective immediately and transition of services is currently underway.
Mark Munro, CEO of InterCloud Systems stated: "This is the single largest contract InterCloud has ever been awarded. This is a tribute to our sales and engineering teams capabilities, our competitive products, and quality of service. Winning a multi-year agreement of this scale from a global leader in communications is a clear sign that InterCloud is positioned as a leader in our market segments. Our pipeline and backlog have grown over the past year and provide InterCloud with a strong foundation for growth."
About InterCloud Systems, Inc.
InterCloud Systems, Inc. is a leading provider of cloud networking orchestration and automation, for Software Defined Networking (SDN) and Network Function Virtualization (NFV) cloud environments to the telecommunications service provider (carrier) and corporate enterprise markets through cloud solutions and professional services. InterCloud's cloud solutions offer enterprise and service-provider customers the opportunity to adopt an operational expense model by outsourcing cloud deployment and management to InterCloud rather than the capital expense model that has dominated in recent decades in IT infrastructure management. Additional information regarding InterCloud may be found on InterCloud's website at www.intercloudsys.com.