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SOURCE WidePoint Corporation and Soft-ex
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."
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.
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.
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For More Information:
Jim McCubbin, EVP & CFO
7926 Jones Branch Drive, Suite 520
McLean, VA 22102
Brett Maas or David Fore
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