High Wire Networks Wins $1.2 Million Managed Services Contract Renewal for Fortune 500 Healthcare Company


GLOBENEWSWIRE

Tuesday, January 3, 2023, 7:06 AM MST

BATAVIA, Ill., Jan. 03, 2023 (GLOBE NEWSWIRE) —  High Wire Networks, Inc. (OTCQB: HWNI), a leading global provider of managed security and technology enablement services, has won a managed services contract renewal to deliver tech services for a Fortune 500 healthcare company with more than 3,000 medical clinics nationwide.

The renewal is valued at $1.2 million annually, increasing from the previous $600,000 contract announced last year. Building upon a relationship established over the past seven years, the renewed contract broadens the scope of the engagement to include the management of thousands of additional end user compute (EUC) devices across the customer’s enterprise.

“This expanded engagement with a national healthcare company is a great example of the value our partner relationships bring with repeat business, contract expansion opportunities, and Fortune 500 clientele,” stated High Wire Networks’ president and CEO, Mark Porter. “It also reflects the quality of the managed services opportunities in our near-term sales pipeline.

“We believe this customer has recognized how our technology enablement services can help support clinical health and population health outcomes through improved data collection, care coordination and patient engagement. These benefits are important to any healthcare organization, especially with the growing list of compliance frameworks, which is why we believe we are seeing growing demand for managed services from healthcare providers and anticipate similar wins in the near future.”

The company’s managed technology enablement services and innovative Overwatch managed cybersecurity platform is well suited for complex healthcare environments and the support of HIPPA compliance. Recurring revenue from High Wire’s Overwatch Managed Security business has dramatically expanded as it continues to engage leading MSP partners. Through its now more than 500 industry partners, High Wire has expanded the number of its deployments for multiple Fortune 50 customers.   High Wire’s managed services solutions address a global market that is expected to grow at a 13.8% CAGR to reach $680 billion by 2030. Its Overwatch platform addresses a global cyber security market that is projected to grow at a 13.4% CAGR to reach $376 billion by 2029.

About High Wire NetworksFor over 22 years, High Wire Networks, Inc. has been a trusted partner to VARs, MSPs, distributors, integrators, manufacturers and telecom providers, enabling them to minimize overhead while extending their delivery capabilities around the world. High Wire’s flexible workforce delivers vendor-agnostic technical field, professional and security services across more than 180 countries worldwide.

High Wire services include design, installation, configuration and support for unified communications, wired and wireless networks, cabling and infrastructure, and electrical systems. The company’s Overwatch Managed Security platform enables the company’s partners to deliver comprehensive cybersecurity that is easy to sell and easy to buy as an affordable subscription.    High Wire also offers a variety of on-demand, rapid-response solutions with service levels ranging from two hours to the next business day for onsite break-fix and remote technical support. With High Wire, its partners Get Work Done.

Learn more at HighWireNetworks.com. Follow the company on Twitter, view its extensive video series on YouTube or connect on LinkedIn.

Forward-Looking StatementsThe above news release contains forward-looking statements. The statements contained in this document that are not statements of historical fact, including but not limited to, statements identified by the use of terms such as “anticipate,” “appear,” “believe,” “could,” “estimate,” “expect,” “hope,” “indicate,” “intend,” “likely,” “may,” “might,” “plan,” “potential,” “project,” “seek,” “should,” “will,” “would,” and other variations or negative expressions of these terms, including statements related to expected market trends and the Company’s performance, are all “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. These statements are based on assumptions that management believes are reasonable based on currently available information, and include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performances and are subject to a wide range of external factors, uncertainties, business risks, and other risks identified in filings made by the company with the Securities and Exchange Commission. Actual results may differ materially from those indicated by such forward-looking statements. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company’s expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based except as required by applicable law and regulations.

Company ContactMark Porter, President and CEOHigh Wire NetworksTel +1 (952) 974-4000Email contact

Media RelationsSusanna SongVP of Marketing and CommunicationsHigh Wire NetworksTel +1 (952) 974-4000 Email contact

Tim RandallCMA Media RelationsTel +1 (949) 432-7572Email contact

Investor RelationsRonald Both or Grant StudeCMA Investor RelationsTel +1 (949) 432-7557 Email contact





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