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High Wire Networks Secures 3-Year, $300,000 Managed Cybersecurity Services Contract Expansion for Global Aerospace Logistics Company

PRESS RELEASE: Paid content from Globe Newswire
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
January 10, 2023 GMT

BATAVIA, Ill., Jan. 10, 2023 (GLOBE NEWSWIRE) -- High Wire Networks, Inc.  (OTCQB: HWNI), a leading global provider of managed security and technology enablement services, has secured an expanded three-year, $300,000 contract renewal to provide its Overwatch managed cybersecurity services for a global aerospace company.

The aerospace company provides critical logistics support for the airlines industry. While technology and digitization has brought many advantages to aviation, the complex environment creates special challenges for managing cyber vulnerabilities. It makes the airline industry an attractive target for cyber threat actors with a multitude of motivations, ranging from stealing data or money to causing disruptions and harm.

Recognizing these threats, the client expanded coverage of High Wire’s AI-powered managed extended detection and response (MXDR) cybersecurity services. MXDR provides the capability to manage, detect, and respond to any type of anomaly that warrant investigation. The client also broadened the scope of High Wire’s engagement to include managed endpoint solutions and other ancillary services across its network.

“This expanded engagement with a leading global aerospace company demonstrates the critical importance and effectiveness of our Overwatch services,” stated High Wire president and CEO, Mark Porter. “As cyber threats continue to become more complex, we are seeing an increasing number of clients looking to add additional subscription services to meet their security needs and compliance requirements.” 

Underpinning this demand is the increasing need for the operationalization of cybersecurity. This involves the implementation of best practices that strengthen a company’s cybersecurity infrastructure. When properly implemented by High Wire’s cybersecurity experts, it results in a strong security posture that can address advanced and continuously evolving cyberthreats.

“This aerospace logistics client has embraced our defense-in-depth strategy of incorporating the management of multiple Overwatch cybersecurity tools, with this increasing their financial commitment by 40% compared to our initial engagement,” added Porter.

“Combining our managed endpoint services and other tools into a cohesive solution enables us to eliminate the noise and provide only high fidelity, high value alerts and incidents for review,” stated Porter. “This enhanced operationalization of their cybersecurity investment enables them to continuously evolve with the ever-quickening pace of ‘cybertime’ and its intensifying cyber risk.”

High Wire’s Overwatch Managed Security business has tripled over the past year, and it has deployed managed IT services for multiple Fortune 50 customers. The growth has been largely driven by the company’s innovative MSP partner program whose membership now totals more than 200 worldwide, as well as the increasing demands of their customers for more effective cybersecurity solutions.

High Wire’s managed services 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.

Learn more at 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.

Company Contact
Mark Porter, President and CEO
High Wire Networks
Tel +1 (952) 974-4000
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Susanna Song
VP of Marketing and Communications
High Wire Networks
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CMA Media Relations
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Ronald Both or Grant Stude
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