(THNS) Gears Up for Growth, Upgrades Facility, Grows Engineering Team By 100%

Company to grow engineering team by 100%, upgrade to larger facility in Pune’s IT hub

PORT ORANGE, Fla., Oct. 7, 2014  — Thinspace Technology Inc. (OTCQB: THNS; “Thinspace” or the “Company”), 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 in preparation for next generation innovation and product development growth, the Company is expanding its engineering capabilities, hiring new engineers and staff, and upgrading to a larger development facility located in the Baner Infotech area of Pune, India.

Considered “Oxford of the East,” Pune is equipped with over a hundred education facilities and universities attracting IT talent from all over the world. The Baner area of Pune, specifically, is known to be its center of IT, with nearby Mumbai attracting new infrastructure investment. Thinspace’s new development center, idyllically positioned adjacent to Rajiv Gandhi Infotech Park, one of the most famous IT hubs outside of Bangalore, covers approximately 2500 square feet and can seat up to 50 engineers, up from the current 20, reflecting a capacity increase over 100%.

Thinspace Technology CTO, Vijender Yadav, stated, “With a large pool of talent and good mix of experienced engineers combined with fresh college graduates, Pune is a great location to hire personnel and run technology focused engineering teams like ours. We are looking at doubling our team from 20 to 40 in next couple of months in order to better accelerate product development and improve employee satisfaction. The new facility is currently ready and operational.”

“We are excited to move to a larger development facility in Pune’s technology area. This upgrade should work to improve our productivity, as well as help us attract and retain top notch, world-class talent,” commented Thinspace Technology Chief Executive Officer, Chris Bautista. “Not only does this expansion to a larger center and increase in engineers demonstrate our continued path to growth, but also it reflects our continued commitment and focus on providing customers with only the best in next generation product development and innovation.”

The Company filed its Quarterly Report on Form 10-Q for the three months ended June 30, 2014 on August 14, 2014, reporting revenue of $2.593 million, up 871% from the comparable 2013 period. For more information on Thinspace’s performance in the second quarter 2014, please see the Company’s most recent Form 10-Q on file with Securities and Exchange Commission.

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.

About Thinspace Technology Inc.

Thinspace Technology Inc. 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 a 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.thinspace.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, 2013.

Investor Relations
Email: lauren@choosewindmill.com
Phone: 855-371-3936