High Wire Networks Inc.
09/12/2024 | Press release | Distributed by Public on 09/12/2024 08:18
High Wire Awarded Expanded Contract Renewal with National Luxury Automotive Group for Overwatch Managed Cybersecurity, Increasing Contract Value 5x - September 12, 2024
Annual Contract Renewal Provides 24/7 Managed XDR Services Across Multiple Upscale Dealerships
BATAVIA, Ill., September 12, 2024 - High Wire Networks, Inc. (OTCQB: HWNI), a leading global provider of managed cybersecurity, has been awarded an expanded annual contract renewal to deliver enhanced managed cybersecurity at more than a dozen luxury car dealerships across the West Coast and Midwest U.S.
The renewal for the company's Overwatch Managed Extended Detection and Response (MXDR) services was secured through one of High Wire's premier managed service provider (MSP) partners.
The renewal increases the anticipated annual revenue by fivefold over the previous year, with additional devices added to the scope of the managed detection and response services.
"This expanded renewal contract demonstrates how our MSP partners look to Overwatch as a trusted, U.S. based security partner, and particularly for their high-value customers," stated Overwatch division CEO, Ed Vasko. "We earn this trust by working hand-in-hand to deliver best-in-class security services that are aligned with our MSP partner's business strategy and enables them to significantly grow their business."
Overwatch MXDR provides an immediate alert advantage to uncover threats quickly. The service is layered with the expertise of U.S.-based Overwatch security analysts who manage the tools and monitor the customer's environment 24/7. High Wire's proprietary Overwatch AI-powered playbook manages responses to threats swiftly and effectively with intelligent, lightning-fast automation.
"When it comes to cybersecurity, speed matters," added Vasko. "Our sophisticated methods of real-time data processing and analysis, coupled with our high-touch service-delivery process, enables Overwatch MXDR to identify and remediate problems as they arise, eliminating or minimizing their impact."
To learn more about High Wire and its award-winning managed cybersecurity services, visit HighWireNetworks.com or view its educational video series on its YouTube channel.
About High Wire Networks
High Wire Networks, Inc. (OTCQB: HWNI) is a fast-growing, award-winning global provider of managed cybersecurity. Through 200 channel partners, it delivers trusted managed services for more than 1,100 managed security customers worldwide. End-customers include Fortune 500 companies and many of the nation's largest government agencies. Its U.S. based 24/7 Network Operations Center and Security Operations Center is located in Chicago.
High Wire was ranked by Frost & Sullivan as a Top 12 Managed Security Service Provider in the Americas for 2023. It was also named to CRN's MSP 500 and Elite 150 lists of the nation's top IT managed service providers for 2023 and 2024.
Learn more at HighWireNetworks.com. Follow the company on X, view its extensive video series on YouTube or connect on LinkedIn.
Forward-Looking Statements
The 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 Contact:
Susanna Song
Chief Marketing Officer
High Wire Networks
Tel +1 (952) 974-4000
Investor Relations:
Ronald Both or Grant Stude
CMA Investor Relations
Tel +1 (949) 432-7557