Hyperspace Comm (AMEX:HCO)
Historical Stock Chart
From Jan 2020 to Jan 2025
HyperSpace(R) Communications Signs Major Reseller Agreement With
Satellite Broadband Access Leader iDirect Technologies
Pact Calls for iDirect to Offer HyperWeb(TM) 7.0 Acceleration Software to
Customers for iDirect's Satellite Broadband Access Services;
DENVER, Dec. 14 /PRNewswire-FirstCall/ -- HyperSpace Communications, Inc.
(AMEX:HCO), a leading provider of application acceleration software, today
announced a major reseller agreement with iDirect Technologies, Inc. of Reston,
VA. Value of the pact was not disclosed, although management said that in
order for iDirect to maintain certain market exclusivity rights, it would have
to generate a minimum of $900,000 in the sales of HyperWeb(TM), measured at
periodic intervals, over the two year term of the agreement, less than half of
which is required during the first year. iDirect placed an initial order under
the contract in December 2004.
iDirect Technologies is the industry's leading provider of satellite-based
broadband access solutions. The company's solutions combine high performance,
worldwide availability, ease of installation, high reliability and low cost to
end customers. iDirect provides its two-way broadband IP access-over-
satellite solution through a channel distribution strategy employing a
worldwide network of service providers and network operators.
Under terms of the agreement, iDirect will deploy HyperSpace's HyperWeb 7.0 in
the satellite broadband access market space. HyperWeb 7.0 accelerates,
optimizes and secures Web-based and client/server applications over the
Internet and wireless and wired networks. The product will be part of a
bundled service package offered initially to iDirect's existing customer base.
Customers seeking to accelerate their downloads will have the option to add
HyperWeb to their service. HyperSpace and iDirect consider the new product
offering to be the most cost-effective and complete solution to the "last mile"
problem, particularly for cost-sensitive home users, small businesses and
developing countries.
"In certain applications the HyperWeb software will reduce monthly recurring
costs to the end user by as much as 50% by increasing bandwidth efficiency of
the iDirect VSAT system in Internet access applications," said Greg Cinque,
chief technology officer of iDirect. "This new offering will afford our
enterprise and carrier customers a distinct competitive advantage in the
market, and we believe demand for the HyperWeb will be strong."
Mark Endry, president and CEO of HyperSpace, said the agreement represents a
watershed revenue opportunity for HyperSpace based on iDirect's expectation for
positive customer acceptance. He noted that the agreement also includes
maintenance and support services. HyperSpace will begin immediately to train
iDirect's engineering, sales and support staff.
"iDirect is a premier global player in the satellite broadband access space,
and we view this agreement as a major milestone for HyperSpace," said Endry.
"It not only validates the relevance of our solutions in the satellite market
segment, but it forms the basis of a new partner and reseller model that is
designed to yield predictable, ongoing revenue streams over the long term. We
look forward to a long, growing and mutually beneficial relationship with
iDirect."
About HyperSpace Communications
HyperSpace software supports anywhere, anytime access to business-critical data
world wide, with real-time, secure application acceleration over existing
networks. Hyperspace offers secure, accelerated access right to the desktop.
Customers include ABN AMRO, Deutsche Bank, Bridgestone-Firestone Europe, UBS
PaineWebber, Dex Media, Hunter Douglas, Nokia, Telecom Italia, and Amway along
with many others. For more information, visit HyperSpace online at
http://www.ehyperspace.com/.
About iDirect Technologies
iDirect Technologies designs, develops, and markets satellite-based broadband
access solutions targeted at the enterprise, government, carrier and
educational sectors that have the need for fast, flexible, and geographically
dispersed two-way internet/intranet access. The company has developed
technology solutions that combine high performance, worldwide availability, and
ease of installation, high reliability, and low cost to end customers. In
addition, iDirect solutions offer unprecedented efficiencies, increased revenue
opportunities and higher per customer gross margins to satellite network
operators. iDirect was included in the Deloitte & Touche Technology Fast 500
list of the fastest-growing U.S. technology companies and one of Virginia's top
50 fastest growing technology companies for both 2003 and 2004. iDirect
operates its corporate headquarters in Herndon, Virginia and has regional
offices in Europe, Asia, and covering Latin America. Additional information is
available on the company website at http://www.idirect.net/.
Cautionary Statement
Certain statements in this press release are "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933 and Section 21E
of the Securities Exchange Act of 1934. These statements involve a number of
risks, uncertainties and other factors that could cause actual results,
performance or achievements of HyperSpace Communications to be materially
different from any future results, performance or achievements expressed or
implied by these forward-looking statements. Other factors, which could
materially affect such forward-looking statements, can be found in HyperSpace
Communications' filings with the Securities and Exchange Commission, including
risk factors. Investors, potential investors and other readers are urged to
consider these factors carefully in evaluating the forward-looking statements
and are cautioned not to place undue reliance on such forward-looking
statements. The forward-looking statements made herein are only made as of the
date of this press release and HyperSpace Communications undertakes no
obligation to publicly update such forward-looking statements to reflect
subsequent events or circumstances.
Company Contacts:
John Yeros, Chairman, 303.566.6510
Barbara Coy, Investor Relations, 303.566.6532
http://www.ehyperspace.com/
DATASOURCE: HyperSpace Communications, Inc.
CONTACT: John Yeros, Chairman, +1-303-566-6510, or Barbara Coy, Investor
Relations, +1-303-566-6532, both of HyperSpace Communications, Inc.,
Web site: http://www.idirect.net/
Web site: http://www.ehyperspace.com/