Centuric Partners with Thinspace Technology (OTCBB: THNS) for Its Cloud Based Virtual Desktop Offering

PORT ORANGE, Fla., March 18, 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 announced that Infrastructure as a Service (IaaS) provider, Centuric, partnered with Propalm/Thinspace Technology in September 2013 for its Cloud-Based Virtual Desktop product and together they now offer a full Desktop as a Service (DaaS) solution to their growing enterprise customers and partners. 

Over the past several months, Thinspace's Windows Embedded Thin Client, TS-200, "TSE", and One Gate Software products have been undergoing an integration process with Centuric's back end cloud architecture. Centuric chose Thinspace after a year of due diligence spent studying all available solutions in the Hosted Desktop Market. Thinspace's TSE and One Gate were identified as the best solutions within budget. Centuric has rolled out the "Desktop as a Service" internally and proven the product successful with employee use. The offering is now currently available for deployment to Centuric's enterprise customers and partners throughout the United States, Caribbean and Latin America.

With origins in the banking industry, Centuric has been in the hosting and technology infrastructure business since 2001. Centuric was founded to achieve regulatory compliance from organizations like the FDIC, OCC, and various state banking authorities, and continues to align its products and services with the evolution of security threats, compliance regulations, and trends within the industry.  Centuric is known for delivering a broad range of cloud applications in a secure IaaS environment for clients seeking a hosted solution rather than building their own infrastructure and hiring technical specialists.

Headquartered in South Florida, Centuric has a unique focus on the Caribbean and Latin American market with specific penetration into Puerto Rico and Colombia. Centuric operates within Tier 4 Data Centers in Miami and a SSAE 16 SOC-1 Type II compliant facility in Dallas. Their team of virtualization experts is recognized for guiding partners and customers to the right solutions to meet their needs. For more information on Centuric, please visit www.centuric.com.

Owen Dukes, Chief Executive Officer of Thinspace Technology, commented, "Centuric, along with their solid partner base, provide a complete "Turn-Key" hosted Desktop Solution to enterprise customers, including the "Cloud", Monitoring Services, End Point, and all other relevant desktop licensing.  This packaged solution is not only easy to use, but priced affordably and will undoubtedly see demand in the current market. We have formed a true partnership with Centuric and look forward to its continued success in 2014 and beyond."

"Centuric's cloud solutions integrate masterfully with Thinspace's products, offering an instant full service hosted Desktop solution to offer enterprise users. With processing speeds up to 500 MHz, Giga bit LAN & VGA as standard, you can easily run the latest Windows applications from a Microsoft, Propalms, Citrix or VMware virtualization environment over a LAN/WAN without the need for a PC. Moreover, the initial TSE / One Gate install was simple, and easy for our technical team to use 'right out of the box'. Thinspace provides one of the most powerful, efficient cloud clients on the market today and we couldn't be more pleased to include them in our Desktop as a Service product offering," said Richard Rodriguez, Chief Executive Officer of Centuric.

About the Industry
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.

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. The maintenance cost for any potential customer is also substantially reduced. With the total cost of ownership for all organizations a priority, Thinspace is able to substantially win more new customers across a broad range of Government and Industry sectors.

Through its network of distributors and resellers, Thinspace typically targets medium size organizations with up to 1000 users. Citrix mainly targets organizations with a larger number of users and consequently they are not currently a significant competitor threat to Propalms.

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.

Forward-Looking Statements: 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.