|By PR Newswire||
|March 27, 2014 07:30 AM EDT||
PORT ORANGE, Fla., March 27, 2014 /PRNewswire/ -- Thinspace Technology Inc. (OTCBB: THNS; "Thinspace or the "Company"), formerly known as Vanity Events Holdings and Propalms Ltd., 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 is pleased to announce that the Company is continuing its long-standing relationship with India's largest logistics company, DTDC.
Based in Bangalore, DTDC is India's Largest Express Delivery Network, comprising of over 5800 Channel Partners spread across the country and a strength of 22,000 professionals enabling deliveries of 11 million consignments per month across over 10,000 pin-codes in India. Started in 1990 and headquartered in Bangalore, today DTDC also has a significant global footprint and services 240 international locations including USA, UK, Canada, UAE, Hong Kong, Australia, China and all ASEAN countries, through its own operations, joint ventures and business associates. It offers products that address all Logistics-related needs of its clients, ranging from Express Documents to Heavy Cargo, from Domestic Premium Products to International Delivery, and from Supply Chain Solutions to Warehousing.
Thinspace's Propalms OneGate solution allows thousands of DTDC customers and partners to securely access real time information. Thinspace and its Propalms OneGate product provide cost-effective, extremely secure remote access, combined with excellent customer service with extensive support. A Thinspace customer since 2009, DTDC has continued to renew its annual maintenance and support contracts with the Company to ensure continuity of service to their users.
"For DTDC to grow and succeed, it was crucial to have real-time access of courier data available to our regional offices and agents at minimal cost. We could not have achieved this by deploying leased lines or MPLS. We relied on broadband Internet and used Propalms OneGate to access our business applications. The OneGate solution runs with thousands of user logins every day, feeding data in real time in our applications so that our customers can track their courier status every second." Satyajit Sarkar, Chief Executive Officer of DTDC Ltd.
Owen Dukes, Chief Executive Officer of Thinspace Technology, added, "And it [OneGate solution] does performs cost-effectively, consistently and with ease. This is the foundation we are built upon and what will continue to fuel growth in the time ahead. This contract represents another large enterprise customer contract that has been renewed since the beginning of the year – signaling strong customer retention in an expanding marketplace."
Competitive Landscape Thinspace's Propalms product set has comparable functionality to Citrix as well as greater speed and simpler installation processes. However the Company's low production cost enables it to offer its product at a much lower, more competitive price than Citrix, currently some 50% less per user.
According to Gartner research, the global desk top virtualization market is expected to surpass $65 billion in 2015.
About Thinspace Technology Inc. Formerly known as Vanity Events Holdings and Propalms Ltd., Thinspace Technology Inc (OTC: THNS) "Thinspace" 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 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.thinspacetechnology.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, 2012, and its Quarterly Report on Form 10-Q for the quarter ended September 30, 2013.
SOURCE Thinspace Technology Inc.
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