High Wire Awarded Contract Renewal to Deliver Full Range of Tech Managed Services for National Environmental Solutions Provider

Rhea-AI Summary

High Wire Networks, Inc. (HWNI) secures a $1.6 million annual contract renewal to provide technology managed services to a Fortune 500 national environmental solutions provider, with potential for additional services. The engagement, facilitated by a premier global channel partner, aims to expand revenue generation through on-site support, equipment installation, WiFi access points, and more across 1,300 locations in the U.S. and Canada.

BATAVIA, Ill., March 08, 2024 (GLOBE NEWSWIRE) -- High Wire Networks, Inc. (OTCQB: HWNI), a leading global provider of managed cybersecurity and technology enablement, has been awarded an annual contract renewal to provide technology managed services to a Fortune 500 national environmental solutions provider.

Similar to last year’s renewal, the base contract is valued at $1.6 million with the potential for additional services and projects to be provided at additional cost.

Last year, such additional services included fiber installments totaling approximately $1 million in billings, an amount High Wire anticipates will reoccur during the new renewal period or potentially higher. The number of customer locations is also expected to expand over the next year, which would result in a higher level of revenue generation.

Now in its third year, the engagement was secured through one of High Wire’s premier global channel partners that has introduced more than $17.5 million in revenue to High Wire over the last several years.

“Our continued success in delivering managed services has established a deep trust with our channel partners, and this renewal demonstrates how we have become their ‘go-to provider’ for multi-site, nationally deployed managed services,” stated High Wire CRO Don Schmidt. “We anticipate our relationship with this channel partner and their end customer extending and growing long into the future, as we continue to provide best-in-class services and solutions.”

The managed services for the end-customer includes on-site support, computer equipment installation, relocations and upgrades, WiFi access points, wireless mesh, cabling, and fiber remediation and deployments, as well data network resources.

High Wire will also continue to provide 24x7 technical support and customer service through its global command center for the customer’s more than 1,300 locations across the U.S. and Canada.

High Wire’s global command center provides on-demand logistics management and program coordination for scheduled maintenance at all locations, as well as coordinating emergency services when remediating any network outages. The company’s network of 15,000 field technicians will provide hands-on support at customer locations.

The renewed engagement builds upon a long-term relationship with the channel partner. In 2020, High Wire and the partner delivered SD-Wan installation services at the end-customer’s more than 800 locations across North America. In 2022, High Wire worked with the partner to enhance a supermarket chain’s wireless connectivity at 75 locations nationwide.

Also over the last year, High Wire transitioned the channel partner from a time and materials billing model to a more efficient and cost-effective fixed-price managed services model. High Wire helped them to better process and organize their customer data, including information related to incoming tickets and better identifying true break/fix incidents.

To learn more about High Wire and its award-winning managed cybersecurity and IT enablement services, visit HighWireNetworks.com or view the company’s free video series on YouTube.

About High Wire Networks
High Wire Networks, Inc. (OTCQB: HWNI) is a fast-growing, award-winning global provider of managed cybersecurity and IT enablement services. Through 625 channel partners, it delivers trusted managed services for more than 1,100 managed security customers and tens of thousands of technology customers. Its end-customers include hundreds of Fortune 500 companies and the nation’s largest government agencies.

High Wire has 80 full-time employees worldwide and four U.S. offices, including a U.S. based 24/7 Network Operations Center and Security Operations Center in Chicago, with additional regional offices in United Kingdom.

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.

High Wire Contact
Susanna Song
Chief Marketing Officer
High Wire Networks
Tel +1 (952) 974-4000
Email contact

Media Relations:
Tim Randall
CMA Media Relations
Tel +1 (949) 432-7572
Email contact

Investor Relations:
Ronald Both or Grant Stude
CMA Investor Relations
Tel +1 (949) 432-7557
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FAQ

What is the contract value for High Wire Networks, Inc. (HWNI) with the Fortune 500 national environmental solutions provider?

The base contract is valued at $1.6 million.

What additional services were provided last year by High Wire Networks, Inc. (HWNI) to the customer?

Additional services included fiber installments totaling approximately $1 million in billings.

How many customer locations are expected to expand over the next year for High Wire Networks, Inc. (HWNI)?

The number of customer locations is expected to expand, leading to higher revenue generation.

What services are included in the managed services offered by High Wire Networks, Inc. (HWNI) to the end-customer?

Services include on-site support, equipment installation, WiFi access points, cabling, fiber remediation, and 24x7 technical support.

How does High Wire Networks, Inc. (HWNI) provide technical support for the customer's locations?

High Wire provides on-demand logistics management, program coordination for maintenance, and hands-on support by 15,000 field technicians.