NEW YORK, March 22, 2019
FinancialBuzz.com News Commentary
NEW YORK, March 22, 2019 /PRNewswire/ -- Shifting consumer trends mean that information technology (IT) must continue to evolve and adapt. These changing trends cause many businesses to adapt, which is why so many are investing in IT services. IT refers to the study, design and development of computer systems and networks which are used to obtain, process, and distribute data. These services are integrated into many sectors like finance, retail, telecommunications, along with many others. Within those companies, IT connects and ensures functionality between various departments like finance, human resources, manufacturing, and security-related purposes. Furthermore, the communications services segment is also expected to account for the largest share of the market, as consumers are expected to spend approximately USD 1.39 Trillion in the segment. On the other hand, the enterprise software segment is expected to witness the largest growth in 2019. The segment's spending increased by 10.4% in 2017 and is projected to see an 8.3% growth in 2019. Other segments within the IT market, such as data center systems, devices, and IT services, are all expected to contribute to the overall growth of the market. According to data compiled by Gartner, Inc., the global information technology spending is projected to reach USD 3.8 Trillion in 2019, increasing 3.2% from 2018. Nerds On Site Inc. (OTC: NOSUF) (CSE: NERD), WidePoint Corporation (NYSE: WYY), Premier Health Group Inc. (OTC: PHGRF) (CSE: PHGI), AirMedia Group Inc. (NASDAQ: AMCN), Glowpoint, Inc. (NYSE: GLOW)
Despite communications services accounting for the largest share of the IT marketplace, IT services are expected to be in focus for 2019. IT services are also projected to be a key driver, as the segment is expected to reach almost USD 1 Trillion, increasing by 4.7% year-over-year. Gartner said in its report that 46% of organizations indicated that IT services and supplier consolidation were in their top three most-effective-cost-optimization approaches. "While currency volatility and the potential for trade wars are still playing a part in the outlook for IT spending, it is the shift from ownership to service that is sending ripples through every segment of the forecast," said John-David Lovelock, Research Vice President at Gartner. "What this signals, for example, is more enterprise use of cloud services — instead of buying their own servers, they are turning to the cloud. As enterprises continue their digital transformation efforts, shifting to 'pay for use' will continue. This sets enterprises up to deal with the sustained and rapid change that underscores digital business."
Nerds On Site Inc. (OTC: NOSUF) (CSE: NERD) also listed on the Canadian Securities Exchange under the ticker (CSE: NERD). Earlier this week, the Company provided, "an update on its USA expansion.
'Over the first weeks of our franchisee marketing campaign, we have received 400 responses to our new nerd interest request,' said Mr. Charles Regan, President and CEO, Nerds On Site. 'We are thrilled with the extent of the response and most importantly with the level of talent that is represented amongst the applicants we have received,' added Mr. Regan.
'We are very encouraged by the fact that the Nerds On Site brand and business model is proving so attractive to both Florida and Arizona based IT talent, as well as to clients who have responded rapidly to the brand and its promise. The future looks extremely bright for Nerds On Site as we continue to build our presence in these initial states and beyond in the USA,' said Charles Regan, CEO.
About Nerds On Site: Nerds on Site, a company founded in 1995, specializes in providing cost effective, leading edge solutions to Small and Medium sized Enterprise (SME), serving as the complete SME IT solution specialists. Nerds on Site was established in London, Ontario with current annual revenues of approximately $10,000,000. The company services over 12,000 clients per year with a superb 96.5% customer satisfaction rating. NOS's business model is based on Nerds sub contracts in Canada and a Franchise model for USA expansion."
For our latest "Buzz on the Street" Show featuring Nerds On Site Inc. recent corporate news, please head over to: https://www.youtube.com/watch?v=V7YRzZ6b7KA
WidePoint Corporation (NYSE: WYY) is a leading provider of technology-based management solutions, including telecom management, mobile management, access management and identity management. Recently, WidePoint Corporation has partnered with Leidos (NYSE: LDOS), a FORTUNE® 500 science and technology leader, to support its recently awarded contract with NASA to provide information technology end-user services to support the agency's mission. The NEST contract establishes a long-term outsourcing arrangement with the commercial sector to provide and manage the majority of NASA's personal computing hardware, supporting infrastructure, agency standard software, mobile IT services, help-desk support, and other associated end-user services. Widepoint will manage the entirety of NASA's mobile services and provide the associated telecom expense management services, including 24/7 help desk, for more than 20,000 devices over 10 separate accounts. "Leidos's vision for this contract and the company's track record of excellence made joining this team an exciting opportunity for WidePoint," said Jin Kang, Chief Executive Officer and President of WidePoint Corporation. "Strategic partnerships have and continue to be an important growth driver for WidePoint as they enable us to penetrate new markets, diversify and increase our customer base, and improve our already strong reputation. We are honored to be on the Leidos team, and we look forward to supporting NASA's critical mission with WidePoint's TM2 solutions and realizing the many benefits this partnership will have for all parties involved."
Premier Health Group Inc. (OTC: PHGRF) (CSE: PHGI) is a Canadian company that is strategically poised to take advantage of business opportunities in the global healthcare industry. Premier Health Group Inc. recently announced as part of its international expansion strategy, it has entered into a strategic partnership with China's 360 Health, a healthcare subsidiary of 360 Security Technology. The parent company, 360 Security Technology, is a leading online service company in China with a market capitalization of over USD 20 Billion USD as of January 16, 2019. 360 Health (Shanghai Youyi Information Technology Co. Ltd.) is a subsidiary of 360 Technology Inc., a leading online service company in China. 360 Health focuses on medicine and healthcare services. As part of the collaboration, Premier and 360 Health will implement an infrastructure whereby Premier will be providing second opinion services by connecting 360 Health's patients in China with doctors in Canada both remotely and in person. Premier will also assist with General Practitioner training virtually and onsite through medical seminars. "We are very excited to be working with 360 Health as China continues to adopt a Family Practice primary care model and look forward to helping them establish themselves as a leader in primary care. This partnership represents an excellent opportunity for Premier to tap into the fastest growing telemedicine market globally," said Chief Executive Officer, Dr. Essam Hamza.
AirMedia Group Inc. (NASDAQ: AMCN), incorporated in 2007 and headquartered in Beijing, China, is an operator of out-of-home advertising platforms in China targeting mid-to-high-end consumers as well as a first-mover in the travel Wi-Fi market. AirMedia Group Inc. recently announced that Beijing Yuehang Tianyi Electronic Information Technology Co., Ltd, a subsidiary of the Company, has signed strategic cooperation agreements with Qingdao Airlines, Chengdu Airlines, and Yunnan Hongtu Airlines. Mr. Herman Man Guo, Chairman and Chief Executive Officer of AirMedia, commented, "The consummation of these strategic collaborations with three airlines signals a new chapter in our history, as we have realigned the Company's focus to empowering airlines to exceed the expectations of their customers. These collaborations with the airlines consolidate our efforts in shaping our strategies to meet the advent of a new era of in-flight connectivity, an area where our early planning identified strategic importance. As part of our early planning, we established the first regional satellite network in China enabling commercial satellite communications over China, the rest of Asia-Pacific, and North America, and developed a comprehensive solution based on the Gilat dual-band antenna tailored to growing commercial applications of the first KA satellite launched by China Satellite Communication Co. Ltd. In a number of tests completed recently, our solution impressed participating airlines with a swift delivery of quality multimedia entertainment on different models of airplanes. Presently, we are reaching out to additional airlines of various sizes to discuss business opportunities."
Glowpoint, Inc. (NYSE: GLOW) is a managed service provider of video collaboration and network applications. Glowpoint, Inc. and SharedLabs, Inc., a privately held global software and technology services company located in Jacksonville, Florida, recently announced that they had executed a non-binding letter of intent relating to a proposed business combination of Glowpoint and SharedLabs. The business combination of Glowpoint and SharedLabs, which on a combined basis generated total unaudited revenue of approximately USD 86 Million for the twelve month period ending June 30, 2018, will combine two highly capable businesses with strong growth opportunities, and is expected to create a business model with increasing recurring revenue, a diversified customer base, and significant global reach; and is expected to result in the creation of a powerful software and technology services provider with comprehensive products and capabilities spanning managed, outsourced, and cloud services offerings. "This is a powerful combination that is strategically compelling for both companies. It joins two Information Technology businesses and allows the combined company to reach larger market opportunities and scale more efficiently than either organization could accomplish on its own," said Pete Holst, President and Chief Executive Officer of Glowpoint.
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