PORT ORANGE, Fla., Sept. 29, 2014 /PRNewswire/ -- Thinspace
Technology Inc. (OTCQB: THNS; "Thinspace or the "Company"), a
global provider of reliable, scalable and affordable application
delivery, virtualization, and cloud client technology to public and
private sector companies and organizations of all sizes, today
announced that it signed a distribution agreement with a leading
Egyptian technology distributor, Cairo Integrated Hospitality Open
Systems Technology (CIHOST) to provide virtualization solutions to
the region.
CIHOST Egypt was established in 1999 to continue the hospitality
service line of its mother company CITE. As a member of TIBA – CITE
Group, CIHOST has become one of the leading regional providers of
hospitality information technology solutions. More information can
be found at www.cihostegypt.com.
"I am excited about our new relationship with CIHOST. They
have a solid customer base and support staff, which will not only
help drive sales of Thinspace products, but also assist in
increasing our market awareness in the Middle East region. We look forward to
developing and maintaining a long-standing relationship with this
top provider, and growing our presence and revenues in this high
growth market," stated Chris
Bautista, Chief Executive Officer of Thinspace
Technology.
"We are very pleased to formalize our relationship with
Thinspace through the signing of this distribution agreement.
Thinspace products have proven to be the ideal platform for us to
ensure the successful delivery of applications and desktops, to our
expanding customer base. We look forward to being part of this
growing success story," stated Dr. Hassan
Radwan, Chairman of CIHOST Egypt.
The Company filed its Quarterly Report on Form 10-Q for the
three months ended June 30, 2014 on
August 14, 2014, reporting revenue of
$2.593 million, up 871% from the
comparable 2013 period. For more information on Thinspace's
performance in the second quarter 2014, please see the Company's
most recent Form 10-Q on file with Securities and Exchange
Commission.
Thinspace Technology operates in high growth B2B markets of
application delivery, virtualization and cloud client technology
that make it easier, more flexible and more affordable for
companies and IT Managers to conduct and streamline computing
operations securely from any server - anywhere in the world.
IDC predicts that 2014 is the year where desktop virtualization is
going to become main stream given its advantages currently in
demand: low cost, flexibility, secure and green. According to
Gartner research, the global desk top virtualization market is
expected to surpass $65 billion in 2015.
About Thinspace Technology Inc.
Thinspace Technology Inc. is a global provider of reliable,
scalable and affordable application delivery, virtualization, and
cloud client technology to public and private sector companies and
organizations of all sizes. Operating on the belief that
application delivery and cloud computing solutions should be
flexible, dynamic and above all, simple to use, Thinspace
understands and is passionate about solving customer problems
affordably in the most efficient and effective manner possible. The
Company's list of private and public sector customers include NASA,
PWC, Deutsche Bank, Toyota, as well as, NHS, local councils,
universities, schools, and housing associations. With over 5,000
enterprise customers worldwide, Thinspace is recognized as a
leading player in application delivery, virtualization, and cloud
technology markets. The Company is headquartered in Port Orange, Florida with international
offices in U.K., Canada, and
India. For more information on the
Company, please visit www.thinspace.com.
Forward-Looking Statements:
This press release includes forward-looking statements
concerning the future performance of our business, its operations
and its financial performance and condition, and also includes
selected operating results presented without the context of
accompanying financial results. These forward-looking statements
include, among others, statements with respect to our objectives
and strategies to achieve those objectives, as well as statements
with respect to our beliefs, plans, expectations, anticipations,
estimates or intentions. These forward-looking statements are based
on our current expectations. We caution that all forward-looking
information is inherently uncertain and actual results may differ
materially from the assumptions, estimates or expectations
reflected or contained in the forward-looking information, and that
actual future performance will be affected by a number of factors,
including economic conditions, technological change, regulatory
change and competitive factors, many of which are beyond our
control. Therefore, future events and results may vary
significantly from what we currently foresee. We are under no
obligation (and we expressly disclaim any such obligation) to
update or alter the forward-looking statements whether as a result
of new information, future events or otherwise.
The Company is subject to the risks and uncertainties
described in its filings with the Securities and Exchange
Commission, including the section entitled "Risk Factors" in its
Annual Report on Form 10-K for the year ended December 31, 2013.
Investor Relations
Email: lauren@choosewindmill.com
Phone: 855-371-3936
SOURCE Thinspace Technology Inc.