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Thinspace Technology Highlights Its Post-Merger Industry Leading Management Team

PORT ORANGE, Fla., March 21, 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 highlighted its impressive post-merger management team comprised of high calibre industry leaders.

With a well known entrepreneurial track record in the security software industry, Robert Zysblat has successfully led and sold a number of significant messaging companies. Notable successes include Computer Communications Ltd (purchased in 1996 and sold in July 2001), 5th Generation Messaging (bought in December 2000 and sold in July 2002), and MSS Communications (acquired in September 2002 and sold in 2004). Mr. Zysblat has been with Propalms Ltd. since July 2005 and held the positions of Chairman and Chief Financial Officer since 2007.  In September 2010, Mr. Zysblat led a successful management buyout of Propalms Ltd from its parent company. Post-merger, in addition to remaining on as Chairman of the Board of Directors, Mr. Zysblat now holds the position of President of Thinspace Technology and is primarily responsible for corporate management of the public entity and meeting all financial reporting requirements.

Owen Dukes, Chief Executive Officer of Thinspace Technology, has twenty years of extensive industry experience in leading and managing technology companies. Like Mr. Zysblat, he also joined Propalms Ltd starting in 2005. In 2006, he was appointed CEO of the Company and alongside Mr. Zysblat led its successful management buyout from its parent company. Prior to Propalms, he held key management and executive positions within: Phoenix Software, the leading UK Microsoft reseller, a channel manager; Surf Control PLC, where he built up their UK market to a multi-million pound enterprise. As an entrepreneur, he launched Arc Technology Distribution Ltd, and purchased two other distributors, Unidirect Ltd and IPconnect Ltd. before resigning from the company in 2006. As Chief Executive Officer, Mr. Dukes is the Executive Team's visionary and navigator, responsible for ensuring the Company's day-to-day operations go smoothly and the successful execution of its business plan.

Innovation behind the Company's product line and technical direction belongs to the Director of Product Development, Matt Malarkey. His areas of expertise cover application delivery and desktop virtualization along with an in-depth knowledge of Microsoft, Citrix and VMware solutions. This knowledge enables him to successfully drive the on-going product management strategy at Thinspace. Prior to joining Propalms in 2006, Matt spent ten years working with Citrix and Microsoft technology as a technical engineer involved in the design and delivery of many large scale deployments. Matt has been a Microsoft Certified Systems Engineer for 14 years and is a Citrix Certified Enterprise Administrator.

Vijender Yadav, the Company's Chief Technology Officer, has more than 10 years of experience in product development in network security and remote access domain and was a part of the Propalms team. He manages the engineering division and is responsible for evaluating and developing useful solutions using emerging and proven technologies. Prior to Propalms, he worked with NeoAccel where he held multiple positions starting as a developer and ended up as Product Manager for the SSL VPN and Network Access Control of Product. Before NeoAccel, Vijender worked with Patni Computer Systems in open system technologies. Vijender responsibilities as Chief Technology Officer include leading Thinspace's worldwide development team and implementing its technical road map. 

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.

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