MCLEAN, Va., May 6, 2014 /PRNewswire/ -- WidePoint Corporation
(NYSE Mkt: WYY), a leading provider of Managed Mobility Services
featuring enterprise-wide telecommunications management (TLM) and
Cybersecurity solutions, announced today that it has acquired
Soft-ex Communications, Ltd., a leading software provider of
Telecom Data Intelligence (TDI) solutions throughout European and
Middle Eastern markets, with headquarters in Dublin, Ireland.
Soft-ex is a leading supplier of TDI services offered as a
Software-as-a-Service (SaaS) solution that provides unique online
data intelligence for Communication Service Providers (CSPs) and
their Enterprise customers for fixed, mobile, and IP/PABX
communications. Soft-ex delivers visibility and intelligence for
the CSP on their customer base and for their Multinational
Corporation (MNC) customers, enabling them to achieve significantly
improved cost, performance, and infrastructure management across
their global communications infrastructure. Soft-ex has a proven
track record of delivering cloud-based solutions to global partners
such as Telefonica, British Telecom, Telia, and KPN.
Ian Sparling, CEO of Soft-ex,
stated, "This transaction complements our focus and expertise on
delivering Business Intelligence and Subscriber Data Intelligence
to the global service provider market. Through our partnerships,
clients can leverage our innovative SaaS solutions combined with
the scale and breadth of WidePoint's Managed Mobility offerings,
optimizing the core strengths of both organizations."
Under terms of the acquisition agreement, WidePoint, through a
wholly owned subsidiary, paid $5
million in cash at closing on May 1,
2014, and issued a one-year contingent subordinated
unsecured seller's note payable for $1
million. WidePoint management expects the acquisition of
Soft-ex to contribute at least $6
million in profitable annualized revenues with additional
growth driven by a number of cross-selling opportunities supported
by the combined company's complementary services offerings, channel
partners, and other strategic global initiatives.
Steve Komar, CEO of WidePoint,
added, "The combination of WidePoint's Secure Managed Mobility
Services coupled with Soft-ex's European and Middle East presence, channel partners, and
additional portfolio of services provides our combined operations
with a stronger base of operations, services, and global growth
opportunities."
About Soft-ex
Soft-ex is a leading supplier of Telecom Data Intelligence (TDI)
Software as a Service (SaaS) solutions that provide unique online
data intelligence for Communication Service Providers (CSPs) and
their Enterprise customers for fixed, mobile and PABX
communications. Headquartered in Ireland with offices in the UK, the Netherlands and Scandinavia, with
customers and partners in over 90 countries globally. Key
channel customers include Telefónica, British Telecom, KPN, Telia,
and key enterprise clients include Microsoft, Nationwide, Lloyds,
Shire and Prudential.
For more information, visit www.soft-ex.net.
About WidePoint
WidePoint (NYSE Mkt: WYY) is a leading provider of secure,
cloud-delivered, enterprise-wide information technology-based
solutions that can enable enterprises and agencies to deploy fully
compliant IT services in accordance with government-mandated
regulations and advanced system requirements. WidePoint has several
major government and commercial contracts.
For more information, visit www.widepoint.com.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: This press release may contain forward-looking
information within the meaning of Section 21E of the Securities
Exchange Act of 1934, as amended (the Exchange Act), including all
statements that are not statements of historical fact regarding the
intent, belief or current expectations of the company, its
directors or its officers with respect to, among other things: (i)
the company's financing plans; (ii) trends affecting the company's
financial condition or results of operations; (iii) the company's
growth strategy and operating strategy; (iv) the declaration and
payment of dividends; and (v) the risk factors disclosed in the
Company's periodic reports filed with the SEC. The words "may,"
"would," "will," "expect," "estimate," "anticipate," "believe,"
"intend" and similar expressions and variations thereof are
intended to identify forward-looking statements. Investors are
cautioned that any such forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties, many of which are beyond the company's ability to
control, and that actual results may differ materially from those
projected in the forward-looking statements as a result of various
factors including the risk factors disclosed in the company's Forms
10-K and 10-Q filed with the SEC.
For More
Information:
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Jim McCubbin, EVP
& CFO
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Brett Maas or David
Fore
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WidePoint
Corporation
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Hayden IR
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7926 Jones Branch
Drive, Suite 520
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(646)
536-7331
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McLean, VA
22102
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brett@haydenir.com
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(703)
349-2577
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jmccubbin@widepoint.com
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SOURCE WidePoint Corporation