WidePoint Corporation

WidePoint Corporation

Type	Public (NYSE MKT: WYY)
Industry	Internet, Communications
Founded	1997
Headquarters	7926 Jones Branch Drive, Suite 520 McLean, Virginia, USA
Key people	CEO: Steve Komar, CFO: Jim McCubbin
Revenue	$43.3 million USD (2009)^[1]
Net income	$1.7 million USD (2009)^[1]
Number of employees	92
Website	www.widepoint.com

WidePoint Corporation is an American company based in McLean, Virginia that provides technology-based products and services to the government sector and commercial markets in the United States. The company holds a patent for a digital parsing tool that allows users to access accounts through a secure repository gateway, established using asymmetric authentication employed as public key infrastructure (PKI). WidePoint provides smart card identity verification, wireless expense management, penetration testing and other IT devices and services. WidePoint’s subsidiary ORC is an authorized certification authority (CA) for the Department of Defense and other government agencies.

WidePoint was incorporated in Delaware on May 30, 1997 and has grown through mergers between IT consulting firms. Currently, the company is composed of three business groups offering Wireless Mobility Management, Cybersecurity solutions and consulting services.

The Company is headquartered in McLean, Virginia and has additional offices in Northern Virginia as well as Los Angeles, California, Chicago, Illinois, and Detroit, MI.

Acquisition history

In November 2004, WidePoint acquired ORC, followed by iSYS in January 2008.^[2] The Company also operates WidePoint IL, Inc. and Protexx Acquisition Corp, which was acquired in July 2008.

Subsidiaries

iSYS

iSYS, LLC, provides IT services for federal and private organizations. It was founded in 1999 and purchased by WidePoint in January 2008. iSYS divides its services into three distinct categories:

Wireless Telecommunications Expense Management Services (TEMS): iSYS’s Telecom Management Services partners with the client’s wireless carrier to manage the expense of the telecom services. iSYS acts as a single source through which a client can manage all of its wireless assets (cell phones, BlackBerrys, PDAs, air cards and pagers). iSYS manages all of its devices in accordance with the GSA Federal Strategic Sourcing Initiative ^[3] and claims that their TEMS can save the client 30-50% ^[4] on wireless costs. iSYS explains that this savings is based on a combination of increased accountability, automated processes, consolidation of services, and proper device management.^[5] iSYS provides a web portal through which clients can manage all of their telecommunications needs in one place. The company manages more wireless devices than any other TEM service provider.^[5]
Forensic Informatics: iSYS provides system engineering available to federal, state, and local law enforcement in the United States. iSYS’s Forensic Informatics can help law enforcement agencies implement newer information systems that meet modern requirements.
Cybersecurity: iSYS creates and performs vulnerability tests on Microsoft and Unix environments. These tests often involve the use of penetration tools such as Nessus, neWT, and eRetina, as well as other security testing tools.^[6] Clients include the Department of Defense, FBI and National Institute of Health.
iSYS also provides customized consulting services.

ORC

ORC provides IT integration and secure authentication services to the U.S. Government. It is an authorized certificate authority for the United States Department of Defense,^[7]^[8] GSA,^[9] and many other certificate-based authorities.^[8] ORC also provides application specific hardware and software to maintain high levels of information assurance.

Protexx

Protexx provides Remote Authentication over wired and wireless networks. The company develops software using its patent-pending competitively differentiated encryption, which uses asymmetric authentication employed as PKI to provide user and sender verification with up to 2048-bit encryption. This improves upon standard multi-factor authentication by eliminating the additional hardware, licensing and support usually required to provide a comparable level security. With this encryption, all incoming and outgoing traffic (email, HTTP, FTP, IM, VoIP, etc.) is automatically encrypted and authenticated.

Advance Response Concepts Corporation

ARCC provides identity verification and emergency coordination between emergency services and infrastructure agencies as well as evidence tracking software for the Department of Justice. The emergency coordination package is based around the trademarked RaptorID system, which issues physical identification devices (barcodes, smart cards) to first responders so that field operations can immediately identify each responder and establish their credentials. RaptorID smart cards store baseline attributes as mandated by national standards organizations like the National Fire Protection Association and often contain additional information about the user, including skills, training, certifications and medical records. The RaptorID system is designed to meet Federal Emergency Management Agency and ANSI specifications for first responder credentialing.

ARCC's crime scene management and evidence tracking software, CONDOR, gives crime scene officials the ability to digitally record and track evidence throughout the chain of custody, as well as monitor the activities of all personnel involved. ARCC achieves this by embedding RFID trackers into each piece of evidence and biometrically scanning each official that attempts to accesses the evidence, all in accordance with the U.S. National Information Exchange Model (NIEM) compliance system.^[10]

Government contracts

Most of WidePoint’s government client base is located in the Mid-Atlantic region. WidePoint currently holds contracts with the Transportation Security Administration, the Department of Homeland Security, the Department of Defense, Washington Headquarters Services, the U.S. Customs and Border Protection, and the Centers for Disease Control, as well as many government contractors and private corporations.

Competition

Due to its diverse market capabilities, WidePoint has competitors in many different fields. WidePoint’s main opposition in Mobility Management includes Avalon Technologies, Profitline and Tangoe. In Cyber Security as well as Consulting, WidePoint’s key competitors are Lockheed Martin Corporation and Northrop Grumman Corporation. WidePoint also has several small and mid-size competitors in each of segment of services.

References

1 2 WidePoint 2009 earnings
↑ "WidePoint buys iSYS". January 3, 2010.
↑ "Federal Strategic Sourcing Initiative". December 25, 2010.
↑ "WidePoint Business Areas". December 25, 2010.
1 2 "Telecommunications Expense Management". December 25, 2010.
↑ "Information Assurance". December 25, 2010.
↑ "External Certificate Authority". December 23, 2010.
1 2 "U.S. Government External Certificate Authority". December 23, 2010.
↑ "US Government Access Certificates for Electronic Services". December 23, 2010.
↑ "WidePoint's ARCC Subsidiary Deploys Phase 2 of DOJ Crime Scene Management Technology Project in Delaware". January 3, 2010.

External links

Official websites

News and financial reports

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