MCLEAN, Virginia, May 7, 2014 /PRNewswire/ --
Expands global presence, access
to additional service providers and channels, while adding broader
portfolio of services supporting the global managed
mobility market
WidePoint Corporation (NYSE: WYY), a leading provider of Managed
Mobility Solutions featuring enterprise-wide telecommunications
management, cybersecurity, identity and data assurance, and
consulting solutions delivered in a secure environment, announced
today that it has acquired Soft-ex Communications, Ltd., a leading
software provider of Telecom Data Intelligence solutions throughout
European and Middle Eastern markets, with headquarters in
Dublin, Ireland.
Soft-ex is a leading supplier of Telecom Data Intelligence (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
Solutions 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 http://www.soft-ex.net.
About WidePoint
WidePoint (NYSE: 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 http://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
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For More Information:
Jim McCubbin, EVP & CFO
WidePoint Corporation
7926 Jones Branch Drive, Suite 520
McLean, VA 22102
+1-(703)-349-2577
jmccubbin@widepoint.com
Brett Maas or David Fore
Hayden IR
+1-(646)-536-7331
brett@haydenir.com