PORT ORANGE, Fla., Nov. 26, 2014 /PRNewswire/ -- Thinspace Technology Inc. (OTCQB: THNS; "Thinspace or the "Company"), a global provider of reliable, scalable and affordable application delivery, virtualization, and cloud client technology to public and private sector companies and organizations of all sizes, today announced that SeeThruEquity, a leading independent equity research and corporate access firm focused on smallcap and microcap public companies, has issued an initiation primer report on the Company. SeeThruEquity is an approved equity research contributor on Thomson First Call, Capital IQ, FactSet, and Zack's. The report will also be available on these platforms.
"We see Thinspace as a speculative microcap investment option in technology sector. Thinspace has assembled an interesting software and hardware product offering focused on delivering cloud-based productivity solutions for small and mid-sized businesses, enterprises, and government agencies. In our estimation, Thinspace is positioning itself to target a large and growing market trend in information technology towards cloud client solutions and workspace virtualization, which make it easier, more cost efficient, and more flexible for organizations to manage their technology assets. The company has an experienced management team with backgrounds that include time at Accenture, Infosys, Citrix, Microsoft and VMWare. Moreover, the company appears to be gaining initial traction with its products, claiming over 5,000 customers, and recently reporting 3Q14 results that included sharp growth over the comparable period in 3Q13. Year-to-date, revenues have increased by more than fivefold from the prior year. This note is an initiation primer and hence we are not issuing a price target or forward estimates for Thinspace at this time. We expect to issue a full initiation piece during 1H2015," commented Ajay Tandon, CEO of SeeThruEquity.
Highlights of the report are as follows:
- Thinspace is an emerging player in the large market for enterprise virtualization, application delivery and cloud computing
- Strong 3Q14 results show robust growth and good execution
- Expanding product suite and engineering team to set stage for growth in future
- Recent fundraising provides working capital and growth capital
Thinspace Technology operates in high growth B2B markets of application delivery, virtualization and cloud client technology that make it easier, more flexible and more affordable for companies and IT Managers to conduct and streamline computing operations securely from any server - anywhere in the world. IDC predicts that 2014 is the year where desktop virtualization is going to become main stream given its advantages currently in demand: low cost, flexibility, secure and green. According to Gartner research, the global desk top virtualization market is expected to surpass $65 billion in 2015.
SeeThruEquity is an equity research and corporate access firm focused on companies with less than $1 billion in market capitalization. The research is not paid for and is unbiased. We do not conduct any investment banking or commission based business. We are approved to contribute our research to Thomson One Analytics (First Call), Capital IQ, FactSet, Zacks and distribute our research to our database of opt-in investors. We also contribute our estimates to Thomson Estimates, the leading estimates platform on Wall Street. For more information please visit www.seethruequity.com.
About Thinspace Technology Inc.
Thinspace Technology Inc. is a global provider of reliable, scalable and affordable application delivery, virtualization, and cloud client technology to public and private sector companies and organizations of all sizes. Operating on the belief that application delivery and cloud computing solutions should be flexible, dynamic and above all, simple to use, Thinspace understands and is passionate about solving customer problems affordably in the most efficient and effective manner possible. The Company's list of private and public sector customers include NASA, PWC, Deutsche Bank, Toyota, as well as, NHS, local councils, universities, schools, and housing associations. With over 5,000 enterprise customers worldwide, Thinspace is recognized as a leading player in application delivery, virtualization, and cloud technology markets. The Company is headquartered in Port Orange, Florida with international offices in U.K., Canada, and India. For more information on the Company, please visit www.thinspace.com.
This press release includes forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, and also includes selected operating results presented without the context of accompanying financial results. These forward-looking statements include, among others, statements with respect to our objectives and strategies to achieve those objectives, as well as statements with respect to our beliefs, plans, expectations, anticipations, estimates or intentions. These forward-looking statements are based on our current expectations. We caution that all forward-looking information is inherently uncertain and actual results may differ materially from the assumptions, estimates or expectations reflected or contained in the forward-looking information, and that actual future performance will be affected by a number of factors, including economic conditions, technological change, regulatory change and competitive factors, many of which are beyond our control. Therefore, future events and results may vary significantly from what we currently foresee. We are under no obligation (and we expressly disclaim any such obligation) to update or alter the forward-looking statements whether as a result of new information, future events or otherwise.
The Company is subject to the risks and uncertainties described in its filings with the Securities and Exchange Commission, including the section entitled "Risk Factors" in its Annual Report on Form 10-K for the year ended December 31, 2013.
Email: [email protected]
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SOURCE Thinspace Technology Inc.