High Wire Networks Wins $1.2 Million Managed Services Contract Renewal for Fortune 500 Healthcare Company
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 Networks
For 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.
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Mark Porter, President and CEO
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