Managed Services Agreement (MSA) Expected to Contribute $7 Million in Revenue During 2025

MSA Poised to Deliver Long-Term Sustainable Growth for ConnectM

MARLBOROUGH, Mass., Jan. 14, 2025 (GLOBE NEWSWIRE) -- ConnectM Technology Solutions, Inc. (NASDAQ:CNTM) ("ConnectM" or the "Company"), a leader in the electrification economy, today announced its wholly owned subsidiary, ConnectM Technology Services LLC, has entered into a Managed Services Agreement (the "MSA") with County Comfort Home Solutions Inc. ("County Comfort,") a Westchester County, New York-based company specializing in energy audits, insulation, weatherization, solar and battery systems and advanced HVAC systems, among other services. This strategic partnership is expected to drive growth and operational efficiencies for both organizations, leveraging ConnectM's comprehensive platform consisting of its Energy Intelligence Network, vendor management, and enhanced procurement amongst its features.

Under the terms of the MSA, the parties have also signed a non binding Letter of Intent to acquire County Comfort at a 5X multiple of EBITDA, contingent upon County Comfort meeting predefined financial milestones. This partnership aims to further enhance revenue and profitability through joint initiatives.