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High Wire Networks Launches Pilot Project as Part of a $2.4 Billion, 10-Year Network Modernization Initiative

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High Wire Networks, Inc. (HWNI) has secured a major pilot project with a national wireless network operator for a large U.S. government agency, representing the initial phase of a $2.4 billion network modernization program for the agency's 4,000 locations across the U.S. The project is expected to be completed by 2026, with a material portion planned to be implemented this year. High Wire expects to be engaged for the remaining stages of the modernization initiative. The company's project delivery backlog is currently at $6.4 million and is expanding, indicating a rebound in the market for their tech enablement business.
Positive
  • Securing a major pilot project with a national wireless network operator for a large U.S. government agency
  • Expectation of engagement for the remaining stages of the modernization initiative
  • Project delivery backlog currently at $6.4 million and expanding
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  • None.

Program Secured with Channel Partner and National Wireless Network Operator for a Large U.S. Government Agency’s 4,000 Locations

BATAVIA, Ill., Jan. 30, 2024 (GLOBE NEWSWIRE) -- High Wire Networks, Inc. (OTCQB: HWNI), a leading global provider of managed cybersecurity and technology enablement, has secured through one of its premier channel partners a major pilot project with a national wireless network operator for a large U.S. government agency.

The project represents the initial phase of the operator’s $2.4 billion network modernization program for the agency’s 4,000 locations across the U.S. which is planned to be implemented over the next 10 years.

The project has begun this week with High Wire conducting a network survey at its initially assigned secure locations. This will be followed by network upgrades at these locations, including the installation of new optical fiber and wireless infrastructure. It will also involve extensive reporting and detailed logistics management for each site.

“This win has the potential to become one of the largest multi-site technology deployments for our company and we believe the largest government VoIP rollout ever for the industry,” stated High Wire CEO, Mark Porter. “We believe our selection for this project reflects the strength of our channel partner network and their confidence in our ability of efficiently and cost-effectively delivering on multi-site technology deployment at scale.”

The pilot project, which was signed under an indefinite quantity, indefinite delivery contract, is expected to be completed by 2026, with a material portion of the project planned to be implemented this year. High Wire expects to be engaged by the partner for the remaining stages of the modernization initiative that will be conducted at the remaining sites over the following several years.

“The launch of this project is also a further indicator that the market for our tech enablement business is rebounding from last fall,” added Porter. “Our project delivery backlog is currently at $6.4 million and is expanding even as we have begun to recognize revenue at the fastest pace in some time. We expect backlog to keep growing with our strong near-term sales funnel and newer strategic relationships starting to produce.”

The pilot project win represents the fifth large scale network expansion and upgrade project the company has announced over the past year. This includes a $1 million IT project as the first phase of Wi-Fi upgrade program for a Fortune 200 department store chain High Wire announced last August. That win followed a $5.3 million Wi-Fi upgrade project announced in April 2023 for another nationwide retailer. The Wi-Fi upgrade project originated from one of the world’s largest technology resellers and integrators that has secured to-date more than $35 million in projects for High Wire.

To learn more about High Wire and its award-winning managed cybersecurity and IT enablement services, visit HighWireNetworks.com or view the company’s 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 more than 625 channel partners, it delivers trusted managed services for nearly 1,000 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 125 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 Puerto Rico and 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.

Learn more at HighWireNetworks.com. Follow the company on Twitter, 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
Email contact


FAQ

What is the significance of the pilot project secured by High Wire Networks, Inc. (HWNI)?

The pilot project represents the initial phase of a $2.4 billion network modernization program for a large U.S. government agency's 4,000 locations across the U.S.

What is the expected completion timeline for the pilot project?

The pilot project is expected to be completed by 2026, with a material portion planned to be implemented this year.

What is High Wire Networks, Inc.'s project delivery backlog currently at?

The company's project delivery backlog is currently at $6.4 million and is expanding, indicating a rebound in the market for their tech enablement business.

HIGH WIRE NETWORKS INC.

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