18.6 C
Toronto
Friday, July 30, 2021
Home Partnerships & Acquisitions Spectrum Global Solutions Announces Definitive Agreement to Merge with High Wire Networks

Spectrum Global Solutions Announces Definitive Agreement to Merge with High Wire Networks

Spectrum Global Solutions Inc. a single-source provider of next-generation communications network and professional services to telecommunications and enterprise markets, announces the Company’s entry into a definitive agreement of merger with High Wire Networks Inc.

High Wire is a global provider of managed security, professional services and commercial/industrial electrical solutions delivered exclusively through a channel sales model. High Wire’s Overwatch managed security platform-as-a-service offers organizations end-to-end protection for networks, data, endpoints and users via multiyear recurring revenue contracts in this fast-growing technology segment. In 2020, a year impacted by the COVID pandemic, High Wire produced more than $18 Million in gross revenue and an operating profit.

“We are excited about the opportunity in front of us,” said Mark Porter, CEO of High Wire. “2021 promises to be a pivotal year. ADEX and High Wire both have world-class customer bases and great people. Together, they can leverage the systems and technology High Wire brings to create new value propositions for our customers and shareholders. We will quickly streamline the combined organization to capture significant cost savings, and more importantly, leverage all of our assets to ignite our sales and accelerate our upward trajectory.”

Learn more at http://www.highwirenetworks.com

On other recent news, High Wire is partnering with ExtraHop to deliver managed network detection and response using ExtraHop’s platform and High Wire’s SOC.

Uniquely, the managed service will be delivered through High Wire and ExtraHop partners.