PORT ORANGE, Fla., Dec. 8, 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 its new strategic partnership with South Korean disk
storage solutions provider, DST Technology, to provide desktop
virtualization solutions to their existing and future enterprise
customers.
DST Technology, a provider of disk storage solutions to large
enterprise customers in South
Korea since 2004, has seen continued and growing demand for
desktop virtualization, a natural complement to server
virtualization, from their existing enterprise disk storage
customer base. The Korean cloud computing market saw a CAGR of
30.5% and market size of $612 million
in 2014.
GiHag Ahn, Chief Executive Officer of DST, stated, "Many of our
customers require data storage to operate desktop virtualization
solutions. As server virtualization and cloud technology
continues to grow, so will the need for data storage. Together with
Thinspace, our combined product offering - desktop virtualization
and data storage - provides the ideal package to effectively meet
market demands and provide our existing customers with a complete,
more effective solution than before."
Chris Bautista, Chief Executive
Officer of Thinspace, commented, "Highly advanced in technology
innovation, the market for desktop virtualization in South Korea is already strong and continues to
grow. Partnering with DST Technology provides Thinspace with
an effective distribution channel in this robust market. Not only
are we pleased to have entry into this potentially lucrative
market, but also happy to be a part of their solution
portfolio."
Thinspace Technology operates in high growth B2B markets of desk
top virtualization and cloud computing solutions – which 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. Thinspace achieved
third quarter 2014 revenue of $2.322
million, and nine months ended September 30, 2014 revenue of $5.701 million, representing year-over-year
improvements of 464% and 479%, respectively.
Gartner research predicts the global desk top virtualization
market to surpass $65 billion in 2015.
About Thinspace Technology Inc.
Thinspace Technology Inc. is a leading, global provider of
reliable, scalable and affordable desk top virtualization and cloud
computing solutions to public and private sector enterprises and
organizations of all sizes. Operating on the belief that 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. With over 5,000 enterprise customers worldwide,
the Company is recognized as leading provider in its market with
customers that include NASA, PWC, Deutsche Bank, Toyota, as
well as NHS, local councils, universities, schools, and housing
associations., The Company is headquartered in Port Orange, Florida with international
offices in U.K., Canada, and
India.
For more information on Thinspace, please visit
www.thinspace.com and/or sign up for Company news alerts delivered
right to your inbox. For industry related news and updates, be sure
to follow Thinspace on Facebook, Twitter, and LinkedIn.
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
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/thinspaces-new-strategic-partnership-with-disk-storage-provider---dst-provides-entry-into-strong-south-korean-market-300005909.html
SOURCE Thinspace Technology Inc.