High Wire Networks Divests Tech Services Assets to Focus on AI-Driven Managed Cybersecurity

High Wire Networks Inc. has announced the sale of its technology services business assets in a strategic move to all-cash transaction. This pivotal shift allows the company to concentrate entirely on its core competency as a pure-play provider in the field of AI-powered managed cybersecurity. The assets from the technology services division have been sold, which marks a transition for High Wire Networks, steering them towards a more focused cybersecurity future.

Investment in Cybersecurity Growth

The proceeds from the asset sale are earmarked to fuel the expansion and development of High Wire Networks' premier Overwatch Managed Cybersecurity business. Overwatch has garnered recognition as an award-winning platform, and the additional funds are slated to amplify its reach and capabilities. High Wire Networks foresees this divesture as a means to augment their higher margin recurring revenue streams, an attractive prospect for investors and stakeholders watching the company's trajectory.

Building on Overwatch's Momentum

Seizing the momentum of its successful Overwatch platform, High Wire Networks aims to leverage the divested funds to enhance their offerings. Overwatch continues to attract attention for its state-of-the-art cybersecurity solutions, driven by advanced artificial intelligence (AI). By dedicating resources to this sector, High Wire Networks intends to solidify its standing in the cybersecurity domain, an industry experiencing rapid growth and high demand for robust security solutions.

Divesture, Cybersecurity, Investment