New business model is focused on making higher margin, recurring and highly predictable services an increasing proportion of future revenue
Communications Systems, Inc. (NASDAQ: JCS) ("CSI" or the "Company"), an intelligent edge products and services company, today announced the release of a Private LTE as a service offering through a collaboration of its subsidiary Ecessa® with its strategic partner Quortus.
Private LTE/5G offers new opportunities for enterprises and governments to build wireless communication solutions for their needs. Spectrum for Private LTE/5G applications is now available in multiple countries, including the 3.5 GHz band (formerly Citizens Broadband Radio Service (CBRS)) in the US. Private LTE offers better coverage, more throughput and improved security compared with traditional wireless solutions. It is currently being deployed on college campuses, and is perfect for corporate campuses, manufacturing plants, hospitals and any organization that needs to deliver broadband wireless access to multiple buildings across expanses of property.
Roger Lacey, CEO of CSI noted, "When we made strategic investments in Ecessa and Quortus earlier this year, our objective was to build out mobile edge capabilities, increase our ‘software-as-a-service’ recurring revenue stream, and create long-term value. This new technology offering successfully leverages those investments to deliver on all three of those goals."
"Working in close strategic partnership with CSI and its subsidiary Ecessa, we are capitalizing on the growing global demand and spectrum availability for private wireless networks," said Mark Bole, CEO at Quortus. "Together, we have the product capabilities to deliver significant competitive advantage to organizations in our target markets."
"Ecessa has always been about making any network better by adding traffic management, encryption, network failover and other software-defined wide area network (SD-WAN) features," said Mike Siegler, Ecessa’s General Manager. "Making Private LTE networks even more secure and reliable fits perfectly with our core strengths."