Fairfax, VA – September 28, 2022 – WidePoint Corporation (NYSE American: WYY), the Trusted Mobility Solutions company, announced that WidePoint IAM Solutions is now being piloted within IT groups at several K-12 schools. The Phase 1 Pilot project includes the elimination of user name and password for Tier 1 IT staff for system and network access, for securing email communication with the schools, and for controlling physical access using existing door readers. Phase 2 will include all school staff members, and scheduling the other phases.
Jason Holloway, WidePoint’s Chief Revenue Officer, stated: “Ransomware attacks on our nation’s school districts and systems are creating a strain on students, staff and resources, draining technology funding, devastating budgets and impacting technology investments that can benefit students and secure schools. Frankly, many of the security offerings in place are not working.”
The WidePoint-ORC cybersecurity team pioneered Public Key Infrastructure (PKI) with the U.S. Department of Defense (DoD). PKI is an unmatched solution centering around strong authentication for controlling both logical and physical access. WidePoint’s next generation federally-certified IAM solutions deliver quantum-resistant PKI solutions for multifactor authentication. WidePoint has evolved our IAM solution for the State, Local and Education (SLED) and commercial markets.
Caroline Godfrey, Chief Security Officer of WidePoint Cybersecurity Solutions Corporation, stated: “User IDs and passwords in combination with one-time passcodes (2-factor authentication) to personal phones are recognized as antiquated solutions and the genesis for malware or ransomware attacks. WidePoint’s multi-phased deployment approach allows for the smoothest, non-intrusive deployment by starting with Tier 1 IT staff, then moving to critical users, teachers, servers, students and devices. Securing schools with PKI, the strongest authentication solution used by the U.S. Department of Defense and civilian federal government agencies, is a significant step forward and game changer for the school community.”
Holloway added: “Schools, government agencies and commercial enterprises need stronger cybersecurity. We are rolling out WidePoint’s IAM solution to schools and look forward to expanding this work. Additionally, we are now developing a national cooperative contracting vehicle to help schools more easily procure this essential solution.”
The global use of PKI will enable increased information sharing and technological collaboration. PKI is so important in today’s digital age because millions of applications and connected devices require verification. And the rise of the Internet of Things (IoT) has led to millions of new connected devices needing to be secured, and authenticated.
Jin Kang, WidePoint’s CEO, stated, “We have been investing in our Identity & Access Management as a Service (IAMaaS) for PKI and we are happy to see that our efforts are gaining traction in this critical space of strong authentication. With the continued cyberattacks on our critical infrastructure on the rise, we see enormous growth opportunities in this space. I look forward to providing additional updates on this pilot project and our commercial IAM wins in the near future.”
About WidePoint
WidePoint Corporation (NYSE American: WYY) is a leading technology Managed Solution Provider (MSP) dedicated to securing and protecting the mobile workforce and enterprise landscape. WidePoint is recognized for pioneering technology solutions that include Identity and Access Management (IAM), Mobility Managed Services (MMS), Telecom Management, Information Technology as a Service (ITaaS), Cloud Security, and Analytics & Billing as a Service (ABaaS). For more information, visit widepoint.com.
WidePoint Investor Relations:
Gateway Group, Inc.
Matt Glover or John Yi
949-574-3860
[email protected]
Fairfax, VA – September 13, 2022 – WidePoint Corporation (NYSE American: WYY), the innovative technology Managed Solution Provider (MSP) specializing in Identity and Access Management (IAM), Telecommunications and Managed Mobility Services (MMS), Analytics & Billing as a Service (ABaaS), and IT as a Service (ITaaS), announced that its subsidiary IT Authorities (ITA) has been awarded two new professional services contracts for Turnkey IT Infrastructure and Modernization by a leading Sports Marketing, Media & Technology company. These two new contracts, valued at more than $140,000, are associated with the media company’s nationwide expansion.
Jason Caras, CEO of IT Authorities, stated: “IT Authorities is excited to expand our work with this industry-transforming company. ITA will provide a procurement of materials, professional services and project management to accomplish this expansion initiative. ITA is also providing design and architecture expertise to support the company’s growth across the professional, collegiate and high school sports sectors.”
Jin Kang, WidePoint’s CEO, stated, “IT Authorities is deepening its contracts with visionary technology companies, providing new opportunities for cross-selling and upselling of WidePoint ITaaS solutions. We look forward to growing with this industry-leading company.”
About WidePoint
WidePoint Corporation (NYSE American:WYY) is a leading technology Managed Solution Provider (MSP) dedicated to securing and protecting the mobile workforce and enterprise landscape. WidePoint is recognized for pioneering technology solutions that include Identity and Access Management (IAM), Mobility Managed Services (MMS), Telecom Management, Information Technology as a Service (ITaaS), Cloud Security, and Analytics & Billing as a Service (ABaaS). For more information, visit widepoint.com.
About IT Authorities, Inc
IT Authorities, Inc. (ITA) is a Managed Services Provider (MSP), a Managed Security Services Provider (MSSP), and a Cloud Services Provider (CSP). ITA offers a complete portfolio of 24x7x365 end user helpdesk services, advanced security services, professional services and management services for Azure, AWS and Microsoft 365 as well as private cloud and on-premises solutions. Based in Tampa, Florida, ITA serves clients across the United States and in North America. ITA is a subsidiary of WidePoint Corporation. To learn more about IT Authorities, please visit www.itauthorities.com.
WidePoint Investor Relations:
Gateway Group, Inc.
Matt Glover or John Yi
949-574-3860
[email protected]
Fairfax, VA – September 6, 2022 – WidePoint Corporation (NYSE American: WYY), the innovative technology Managed Solution Provider (MSP) specializing in Identity and Access Management (IAM), Telecommunications and Managed Mobility Services (MMS), Analytics & Billing as a Service (ABaaS), and IT as a Service (ITaaS), will be presenting and holding one-on-one meetings at the H.C. Wainwright 24th Annual Global Investment Conference on September 12-14, 2022 at the Lotte New York Palace Hotel in New York City.
WidePoint management is scheduled to present on Wednesday, September 14 at 10:30 a.m. Eastern time, with hybrid and in-person one-on-one meetings to be held throughout the conference.
To receive additional information or to schedule a one-on-one meeting, please email [email protected].
About WidePoint
WidePoint Corporation (NYSE American:WYY) is a leading technology Managed Solution Provider (MSP) dedicated to securing and protecting the mobile workforce and enterprise landscape. WidePoint is recognized for pioneering technology solutions that include Identity and Access Management (IAM), Mobility Managed Services (MMS), Telecom Management, Information Technology as a Service (ITaaS), Cloud Security, and Analytics & Billing as a Service (ABaaS). For more information, visit widepoint.com.
WidePoint Investor Relations:
Gateway Group, Inc.
Matt Glover or John Yi
949-574-3860
Fairfax, VA – August 31, 2022 – WidePoint Corporation (NYSE American: WYY), the innovative technology Managed Solution Provider (MSP) specializing in Identity and Access Management (IAM), Telecommunications and Managed Mobility Services (MMS), Analytics & Billing as a Service (ABaaS), and IT as a Service (ITaaS), announced the launch of the new ITMS™, Intelligent Technology Management Solution.
Todd Dzyak, WidePoint’s Chief Operating Officer, led the ITMS™ development team. Dzyak stated,
“ITMS™ evolved from our Intelligent Telecommunications Management System to be a secure technology asset management solution. Our extensive work with federal government agencies guided the development of this next generation secure management technology platform.”
ITMS™ provides a customizable solution for managing, tracking, analyzing and securing technology assets. Users can login, see real time delivery status, complete secure device acceptance, digitally sign IT asset confirmation receipts, and then initiate secure device return and data sanitization at the end of use. Leadership can account for every device every step of the way, from deployment to retirement, cradle to grave. Sample success cases include:
- ITMS™ is the secure asset management solution for an armed forces service, facilitating the validation of more than 18,000 mobility IT assets every month.
- ITMS™ is the secure container of all property documents and custody receipts for a transportation agency. Every device is tracked for increased accountability.
- ITMS™ was the secure asset management solution of record for the largest U.S. Government MMS project, facilitating the secure chain of custody for over 700,000 devices. ITMS™ replaced more than 3.5 million paper receipts for device custody acceptance.
Jin Kang, WidePoint’s CEO, added, “WidePoint is continuing to establish a leadership position in the Trusted Managed Mobility Solutions market with our ITaaS management solution to commercial organizations faced with managing and securing diverse technology assets including enterprise portfolios, mobile workforce equipment, and Internet of Things (IoT). Clients are very interested in utilizing a secure technology management solution that has been vetted by the U.S. Government. Our subsidiary, IT Authorities, is also expanding its sales initiatives by introducing ITMS™ to its growing pipeline of commercial clients.”
About WidePoint
WidePoint Corporation (NYSE American:WYY) is a leading technology Managed Solution Provider (MSP) dedicated to securing and protecting the mobile workforce and enterprise landscape. WidePoint is recognized for pioneering technology solutions that include Identity and Access Management (IAM), Mobility Managed Services (MMS), Telecom Management, Information Technology as a Service (ITaaS), Cloud Security, and Analytics & Billing as a Service (ABaaS). For more information, visit widepoint.com.
About IT Authorities, Inc
IT Authorities, Inc. (ITA) is a Managed Services Provider (MSP), a Managed Security Services Provider (MSSP), and a Cloud Services Provider (CSP). ITA offers a complete portfolio of end user helpdesk services, security services, professional services and management services for Azure, AWS and Microsoft 365 as well as private cloud and on-premise solutions. Based in Tampa, Florida, ITA serves clients across the United States and in countries on five continents. ITA is a subsidiary of WidePoint Corporation. To learn more about IT Authorities, please visit itauthorities.com.
WidePoint Investor Relations:
Gateway Group, Inc.
Matt Glover or John Yi
949-574-3860
[email protected]
Fairfax, VA – August 22, 2022 – WidePoint Corporation (NYSE American: WYY), the innovative technology Managed Solution Provider (MSP) specializing in Identity and Access Management (IAM), Telecommunications and Managed Mobility Services (MMS), Analytics & Billing as a Service (ABaaS), and IT as a Service (ITaaS), announced that its subsidiary IT Authorities (ITA) has been awarded a new Managed Service Provider contract from a leading Sports Marketing & Media company valued at more than $616,700 annually.
Jason Caras, CEO of IT Authorities, stated: “IT Authorities is honored to support this innovative company. The managed services to be provided are a full range of ITaaS solutions including: IT infrastructure support, monitoring, Windows server support, managed and SaaS business application support, user business productivity support, end user desktop support, security, disaster recovering, operating system support, and software licensing. IT Authorities will provide this support 24/7. We are also providing consulting expertise and solutions insight as the company grows its business and technology footprint.”
Jin Kang, WidePoint’s CEO, stated, “The synergies that our teams can create are starting to be realized. This new contract is another example of how IT Authorities is forging new opportunities for cross-selling and upselling of WidePoint ITaaS solutions.”
About WidePoint
WidePoint Corporation (NYSE American:WYY) is a leading technology Managed Solution Provider (MSP) dedicated to securing and protecting the mobile workforce and enterprise landscape. WidePoint is recognized for pioneering technology solutions that include Identity and Access Management (IAM), Mobility Managed Services (MMS), Telecom Management, Information Technology as a Service (ITaaS), Cloud Security, and Analytics & Billing as a Service (ABaaS). For more information, visit widepoint.com.
About IT Authorities, Inc
IT Authorities, Inc. (ITA) is a Managed Services Provider (MSP), a Managed Security Services Provider (MSSP), and a Cloud Services Provider (CSP). ITA offers a complete portfolio of end user helpdesk services, security services, professional services and management services for Azure, AWS and Microsoft 365 as well as private cloud and on-premise solutions. Based in Tampa, Florida, ITA serves clients across the United States and in countries on five continents. ITA is a subsidiary of WidePoint Corporation. To learn more about IT Authorities, please visit itauthorities.com.
WidePoint Investor Relations:
Gateway Group, Inc.
Matt Glover or John Yi
949-574-3860
[email protected]
Fairfax, VA – August 17, 2022 – WidePoint Corporation (NYSE American: WYY), the innovative technology Managed Solution Provider (MSP) specializing in Identity and Access Management (IAM), Telecommunications and Managed Mobility Services (MMS), Analytics & Billing as a Service (ABaaS), and IT as a Service (ITaaS), announced that its subsidiary IT Authorities (ITA) has been awarded five new commercial contracts for a total of more than $360,000.
Jason Caras, CEO of IT Authorities, stated: “From healthcare to financial to higher education, these diverse new contract wins illustrate that IT Authorities is being recognized across industries for delivering valuable IT Modernization and Managed Service Provider solutions.”
Jin Kang, WidePoint’s CEO, stated, “IT Authorities is helping to create a growing pipeline for cross-selling and upselling of WidePoint ITaaS solutions. We are excited to introduce our Identity and Access Management and mobility management to these clients and to support IT Authorities in these engagements.”
About WidePoint
WidePoint Corporation (NYSE American:WYY) is a leading technology Managed Solution Provider (MSP) dedicated to securing and protecting the mobile workforce and enterprise landscape. WidePoint is recognized for pioneering technology solutions that include Identity and Access Management (IAM), Mobility Managed Services (MMS), Telecom Management, Information Technology as a Service (ITaaS), Cloud Security, and Analytics & Billing as a Service (ABaaS). For more information, visit widepoint.com.
About IT Authorities, Inc
IT Authorities, Inc. (ITA) is a Managed Services Provider (MSP), a Managed Security Services Provider (MSSP), and a Cloud Services Provider (CSP). ITA offers a complete portfolio of end user helpdesk services, security services, professional services and management services for Azure, AWS and Microsoft 365 as well as private cloud and on-premise solutions. Based in Tampa, Florida, ITA serves clients across the United States and in countries on five continents. ITA is a subsidiary of WidePoint Corporation. To learn more about IT Authorities, please visit itauthorities.com.
WidePoint Investor Relations:
Gateway Group, Inc.
Matt Glover or John Yi
949-574-3860
[email protected]
Fairfax, VA – August 15, 2022 – WidePoint Corporation (NYSE American: WYY), the innovative technology Managed Solution Provider (MSP) specializing in Identity and Access Management (IAM), Telecommunications and Managed Mobility Services (MMS), Analytics & Billing as a Service (ABaaS), and IT as a Service (ITaaS), reported results for the second quarter ended June 30, 2022.
Second Quarter 2022 and Recent Operational Highlights:
- Revenue double digit growth compared to same periods last year
- IT Authorities awarded new MSP contract by a leading U.S. beverage bottler for three years with a total contract value of $2.6 million
- Soft-ex Communication launched its Three Analyst platform with Three UK, a connectivity company that covers 99% of the UK mobile users with its combined 3G and 4G networks
- Executed more than $53.2 million in contract actions during the second quarter of 2022
- Awarded a $73.4 million task order award from the U.S. Coast Guard under the U.S. Department of Homeland Security (DHS) Cellular Wireless Management Services 2.0 BPA
Second Quarter 2022 Financial Highlights:
- Revenues grew 16% to $23.1 million
- Managed Services revenue increased to $6.7 million
- Gross margin was 14%
- Net loss totaled $(13.8) million, or a loss of $(1.58) per diluted share which reflects a $16.3 million goodwill impairment charge recorded during the second quarter
- Adjusted EBITDA, a non-GAAP financial measure, was $6,000
Six Month 2022 Financial Highlights:
- Revenues grew 12% to $45.5 million
- Managed Services revenue decreased by $0.9 million to $14.0 million
- Gross margin was 16%
- Adjusted EBITDA, a non-GAAP financial measure, was $350,000
- Net loss totaled $(14.2) million, or a loss of $(1.62) per diluted share which reflects a $16.3 million goodwill impairment charge recorded during the second quarter
- As of June 2022, cash and cash equivalents equaled $7.2 million
Management Commentary
“It has been encouraging times here at WidePoint, as we see macroeconomic headwinds subside and are recognizing customer opportunities that have been pushed to the right from the past several quarters,” said WidePoint CEO, Jin Kang. “Our business development pipeline has significantly increased, and we expect to recognize these deals over the coming months. Additionally, in order to ensure we’re operating in the most efficient manner, we’ve recently made strategic organizational shifts within our corporate infrastructure to further streamline and consolidate roles and responsibilities with the goal of enhancing internal communications, improving synergies, minimizing costs, and increasing our profits. We remain steadfast and diligent in executing our plan for profitable growth through organic and inorganic means and are confident in our corporate trajectory and our ability to capture the momentum we’re generating.”
Second Quarter 2022 Financial Summary
Six Month 2022 Financial Summary
Financial Outlook
For the full year 2022, the company expects revenues to range between $92 million – $98 million and Adjusted EBITDA to range between $2.5 million – $3.5 million. However, it is guiding toward the lower end of its adjusted EBITDA range.
Share Repurchase Program
WidePoint has currently paused the repurchase program to preserve its cash balance, as it looks to invest back into the technology and prepare for potential acquisitions. Longer-term, the company still intends to leverage the buyback program when deemed appropriate.
Conference Call
WidePoint management will hold a conference call today (Monday, August 15, 2022) at 4:30 p.m. Eastern time (1:30 p.m. Pacific time) to discuss these results.
WidePoint’s President and CEO Jin Kang, Executive Vice President and Chief Sales and Marketing Officer Jason Holloway, and CFO Bob George will host the conference call, followed by a question and answer period.
U.S. dial-in number: 888-506-0062
International number: 973-528-0011
Access Code: 228203
Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Gateway Investor Relations at 949-574-3860.
The conference call will be broadcast live and available for replay here and via the investor relations section of the company’s website.
A replay of the conference call will be available after 7:30 p.m. Eastern time on the same day through Monday, August 29, 2022.
Toll-free replay number: 877-481-4010
International replay number: 919-882-2331
Replay ID: 46176
About WidePoint
WidePoint Corporation (NYSE American: WYY) is a leading technology Managed Solution Provider (MSP) dedicated to securing and protecting the mobile workforce and enterprise landscape. WidePoint is recognized for pioneering technology solutions that include Identity and Access Management (IAM), Mobility Managed Services (MMS), Telecom Management, Information Technology as a Service (ITaaS), Cloud Security, and Analytics & Billing as a Service (ABaaS). For more information, visit widepoint.com.
Non-GAAP Financial Measures
WidePoint uses a variety of operational and financial metrics, including non-GAAP financial measures such as EBITDA and Adjusted EBITDA, to enable it to analyze its performance and financial condition. The presentation of non-GAAP financial information should not be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. A reconciliation of GAAP Net income to EBITDA and Adjusted EBITDA is provided below:
(1)Net loss includes a non=cash reduction of expenses or the change in the fair value of contingent considneration of $301,000 and $666,0000 in three and six-month periods ended June 30, 2022, respectively.
WidePoint uses a variety of operational and financial metrics, including non-GAAP financial measures such as EBITDA and Adjusted EBITDA, to enable it to analyze its performance and financial condition. The presentation of non-GAAP financial information should not be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. A reconciliation of GAAP Net income to EBITDA and Adjusted EBITDA is provided below:
WidePoint uses adjusted EBITDA as supplemental non-GAAP measure of performance. WidePoint defines EBITDA as net income excluding (i) interest expense, (ii) provision for or benefit from income taxes and (iii) depreciation and amortization. Adjusted EBITDA excludes certain amounts included in EBITDA. WidePoint is not providing a quantitative reconciliation of adjusted EBITDA in reliance on the “unreasonable efforts” exception for forward-looking non-GAAP measures set forth in SEC rules because certain financial information, the probable significance of which cannot be determined, is not available and cannot be reasonably estimated without unreasonable effort and expense. In this regard, WidePoint does not provide a reconciliation of forward-looking adjusted EBITDA (non-GAAP) to GAAP net income, due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation. Because certain deductions for non-GAAP exclusions used to calculate projected net income may vary significantly based on actual events, WidePoint is not able to forecast on a GAAP basis with reasonable certainty all deductions needed in order to provide a GAAP calculation of projected net income at this time. The amounts of these deductions may be material and, therefore, could result in projected GAAP net income being materially less than is indicated by estimated adjusted EBITDA (non-GAAP).
Safe Harbor Statement
This press release contains forward-looking statements concerning our business, operations and financial performance and condition as well as our plans, objectives and expectations for our business operations and financial performance and condition that are subject to risks and uncertainties. All statements other than statements of historical fact included herein are forward-looking statements. You can identify these statements by words such as “aim,” “anticipate,” “assume,” “believe,” “could,” “due,” “estimate,” “expect,” “goal,” “intend,” “may,” “objective,” “plan,” “potential,” “positioned,” “predict,” “should,” “target,” “will,” “would” and other similar expressions that are predictions of or indicate future events and future trends. These forward-looking statements are based on current expectations, estimates, forecasts and projections about our business and the industry in which we operate and our management’s beliefs and assumptions. These statements are not guarantees of future performance or development and involve known and unknown risks, uncertainties and other factors that are in some cases beyond our control. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that we expected, including, the ability to achieve expected benefits from the acquisition of ITA, the ability to achieve the financial outlook included herein, the impact of the COVID-19 pandemic on our business and operations; the impact of any supply chain interruptions; our ability to successfully execute our strategy; our ability to sustain profitability and positive cash flows; our ability to gain market acceptance for our products; our ability to win new contracts, execute contract extensions and expansion of services of existing contracts; our ability to compete with companies that have greater resources than us; our ability to penetrate the commercial sector to expand our business; our ability to retain key personnel; and the risk factors set forth in our Annual Report on Form 10-K for the year ended December 31, 2021 filed with the SEC on March 28, 2022. The forward-looking statements included herein are made only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.
Investor Relations:
Gateway Group, Inc.
Matt Glover or John Yi
949-574-3860
WIDEPOINT CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
LIABILITIES AND STOCKHOLDER’S EQUITY
WIDEPOINT CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
Fairfax, VA – August 11, 2022 – WidePoint Corporation (NYSE American: WYY), the innovative technology Managed Solution Provider (MSP) specializing in Identity and Access Management (IAM), Telecommunications and Managed Mobility Services (MMS), Analytics & Billing as a Service (ABaaS), and IT as a Service (ITaaS), announced that it has been awarded a new Trusted Managed Mobility Services contract by a leading U.S. beverage bottler.
Under the terms of this 3 year contract, WidePoint will deliver a full suite of Managed Mobility Services (MMS) for the Beverage Bottler. The contract is valued at approximately $540,000. Additional solutions and services may be purchased under the terms of this contract.
Jin Kang, WidePoint’s CEO, stated, “This contract win is another prime example of our cross-selling and upselling efforts coming to fruition. WidePoint has begun to realize these opportunities as a result of our acquisition of IT Authorities. Our strategic plan of offering an expanded portfolio of technology solutions is gaining traction with adoption from our commercial and government clients.“
Jason Holloway, WidePoint’s Chief Sales & Marketing Officer, noted: “WidePoint and ITA have developed a cross-selling and upselling process that helps our clients achieve efficiencies in the procurement process to realize their operational goals in mobility, security and managed technology services. Our sales pipelines are both growing and our clients are benefiting from easier access to a portfolio of products from a company they trust.”
About WidePoint
WidePoint Corporation (NYSE American:WYY) is a leading technology Managed Solution Provider (MSP) dedicated to securing and protecting the mobile workforce and enterprise landscape. WidePoint is recognized for pioneering technology solutions that include Identity and Access Management (IAM), Mobility Managed Services (MMS), Telecom Management, Information Technology as a Service (ITaaS), Cloud Security, and Analytics & Billing as a Service (ABaaS). For more information, visit widepoint.com.
WidePoint Investor Relations:
Gateway Group, Inc.
Matt Glover or John Yi
949-574-3860
[email protected]
Fairfax, VA – August 8, 2022 – WidePoint Corporation (NYSE American: WYY), the innovative technology Managed Solution Provider (MSP) specializing in Identity and Access Management (IAM), Telecommunications and Managed Mobility Services (MMS), Analytics & Billing as a Service (ABaaS), and IT as a Service (ITaaS), announced that its subsidiary IT Authorities (ITA) has been awarded a new Managed Service Provider (MSP) contract by a leading U.S. beverage bottler. The contract is for three years with a total contract value of $2.6 million.
Jason Caras, CEO of IT Authorities, stated: “ITA has been working on a month-to-month basis with this bottler for a long time. This new three year Managed Services contract award is a result of our past performance of superior service delivery, and the ability for ITA to offer expanded services through WidePoint. We are honored to work with this industry leader.”
Jin Kang, WidePoint’s CEO, stated, “When WidePoint acquired ITA in October 2021, we did so knowing that the synergies between the companies would combine to create new opportunities. This high margin contract award reflects the types of opportunities in our expanded pipeline in the managed services, cloud, and cybersecurity markets. We look forward to working with this client on other important security and manageability initiatives.”
About WidePoint
WidePoint Corporation (NYSE American:WYY) is a leading technology Managed Solution Provider (MSP) dedicated to securing and protecting the mobile workforce and enterprise landscape. WidePoint is recognized for pioneering technology solutions that include Identity and Access Management (IAM), Mobility Managed Services (MMS), Telecom Management, Information Technology as a Service (ITaaS), Cloud Security, and Analytics & Billing as a Service (ABaaS). For more information, visit widepoint.com.
WidePoint Investor Relations:
Gateway Group, Inc.
Matt Glover or John Yi
949-574-3860
[email protected]
Fairfax, VA – August 3, 2022 – WidePoint Corporation (NYSE American: WYY), the innovative technology Managed Solution Provider (MSP) specializing in Identity and Access Management (IAM), Telecommunications and Managed Mobility Services (MMS), Analytics & Billing as a Service (ABaaS), and IT as a Service (ITaaS), announced today that its subsidiary Soft-ex Communications has launched its Three Analyst platform with Three UK.
Soft-ex is now delivering its latest digital billing communications and analytics platform, Three Analyst, as an integral offering in the new Three Business Adapt portfolio, to Three UK’s business customers. The platform is designed to provide Three’s customers with the ability to track mobile usage and spend. It also gives bill insights to take control of communications spend via a self-serve portal and offers the option to have reports delivered straight to the clients’ inbox.
“We are delighted to be working with Three UK as they recently chose our very latest design-led digital bill presentment and analytics solution,” said Ian Sparling, Chief Executive Officer at Soft-ex. “Our solution will optimise customer online engagement while also delivering internal efficiencies. We look forward to growing this relationship and will continue to introduce a range of new initiatives to ensure that Three Analyst remains the market’s leading solution.”
Commenting for Three UK, Snehal Bhudia, Director of Business Propositions and Go To Market said, “Three Business Adapt provides businesses with an adaptable, scalable solution that’s simple to use and gives much-needed cost certainty. A core value-add service of Three Business Adapt is the Three Analyst portal with its innovative, integrated analytics dashboard. This partnership between Three and Soft-ex delivers a competitive differentiator, allowing businesses to control usage and spending with a simple and digital customer experience.
Jin Kang, WidePoint’s CEO, stated, “In an ever-changing business landscape, enterprises need solutions that adapt to the way we now work. With the acceleration of digitalisation, DSPs (Digital Service Providers) are now intently focused on more effective customer engagement, and that includes enhancing billing communications and self-serve portals. Soft-ex, together with Three UK, provides a best-in-class customer engagement platform for their business clients, and enhances WidePoint’s positioning with enterprise clients.”
About Three UK
Three UK launched in 2003 as the UK’s first 3G only network, laying its foundations as the network that was born to be different. Today Three is a connectivity company that connects people to people, people to things and things to things and has 9.6 million customers. The Three network today covers 99% of the UK population and carries 28% of the UK’s mobile data traffic. Three launched 5G in August 2019, is the largest holder of spectrum in the UK and has been recognised by Ookla as having the UK’s fastest 5G network. Three is the only operator able to meet the International Telecoms Union (ITU) 2020 standard of 100MHz of contiguous spectrum for full 5G services. Three is part of the CK Hutchison Holdings Ltd group of companies which has mobile operations in 11 countries. Three UK employs more than 4,800 people across offices in Reading and Glasgow and 311 retail stores.
About Soft-ex
Soft-ex, part of the WidePoint Group, is a leading supplier of SaaS-based Analytics & Billing as a Service (ABaaS) that provide unique online data intelligence for Digital Service Providers and their Business & Consumer customers for fixed, mobile and PABX communications. Headquartered in Ireland, Soft-ex is proud to serve our clients and partners across the globe. For more information, visit soft-ex.net.
About WidePoint
WidePoint Corporation (NYSE American:WYY) is a leading technology Managed Solution Provider (MSP) dedicated to securing and protecting the mobile workforce and enterprise landscape. WidePoint is recognized for pioneering technology solutions that include Identity and Access Management (IAM), Mobility Managed Services (MMS), Telecom Management, Information Technology as a Service (ITaaS), Cloud Security, and Analytics & Billing as a Service (ABaaS). For more information, visit widepoint.com.
WidePoint Investor Relations:
Gateway Group, Inc.
Matt Glover or John Yi
949-574-3860
[email protected]
Connect with
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