Shares of iPass, Inc. (NASDAQ:IPAS) Jump Following News of Bezeq Deployment

Leading provider of global mobile connectivity, iPass, Inc. (NASDAQ:IPAS), announces that Bezeq, Israel’s leading telecoms group, is using iPass technology to bring global Wi-Fi to its customers.

REDWOOD SHORES, CA–(Marketwired – Oct 17, 2016) – iPass Inc. ( NASDAQ : IPAS ), the leading provider of global mobile connectivity, today announced that Bezeq, Israel’s largest and leading telecoms group, has deployed and is using the iPass SmartConnect™ Software Development Kit (SDK) to bring global Wi-Fi to its customers.

Bezeq launched Bezeq Free Wi-Fi in 2012, setting out to provide customers with free and unlimited internet access away from the home. The service has since grown to cover 700,000 commercial and community hotspots across Israel. Working with iPass’ local partner Oranus, Bezeq has used the iPass SDK to enhance its Bezeq Free app (available on iOS and Android) to provide its customers with simple and secure access to millions of hotspots worldwide. Since its official launch in late September 2016, the updated Bezeq Free app has already been downloaded more than 60,000 times.

The partnership has also seen Bezeq’s Wi-Fi footprint integrated into the iPass global network, meaning that existing iPass customers will now be able to stay connected while travelling in Israel.

“As an innovator in the Israeli telecoms market, we see Wi-Fi as an important part of our business strategy. Providing Wi-Fi connectivity beyond the home offers significant added value to our customers,” said Gil Rosen, VP Marketing and Innovation at Bezeq. “The combination of the iPass SDK and the great technical support provided by Oranus has allowed us to quickly bring a truly differentiated service to the Israeli market. Through Bezeq Free Wi-Fi, our customers can enjoy truly global connectivity.

“Our partnership with Bezeq and Oranus is a fantastic example of how the iPass SDK can enable service providers to quickly tap into the benefits of global Wi-Fi,” said Mato Petrusic, vice president EMEA & APAC at iPass. “At a time when customer acquisition and retention is high on the agenda for many service providers, global Wi-Fi can significantly enhance their service offerings.”

“We see this milestone as a great achievement,” said Oren Sheffy, CEO of Oranus Group. “We are very proud to lead this integration between two great and innovative companies — Bezeq and iPass. We also see this as a breakthrough on the implementation of Wi-Fi and the value it can create to service providers, app developers and other ventures that see Wi-Fi and connectivity as a service they want to provide their users.”

About iPass Inc.

iPass ( NASDAQ : IPAS ) is the leading provider of global mobile connectivity, offering simple, secure, always-on Wi-Fi access on any mobile device. Built on a software-as-a-service (SaaS) platform, the iPass cloud-based service keeps its customers connected by providing unlimited Wi-Fi connectivity on unlimited devices. iPass is the world’s largest Wi-Fi network, with more than 57 million hotspots in more than 120 countries, at airports, hotels, train stations, convention centers, outdoor venues, inflight, and more. Using patented technology, the iPass SmartConnect™ platform takes the guesswork out of Wi-Fi, automatically connecting customers to the best hotspot for their needs. Customers simply download the iPass app to experience unlimited, everywhere, and invisible Wi-Fi.

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Shares of i iPass, Inc. (NASDAQ:IPAS) are actively moving +13.58% thus far today on the news and have traded in the range of $1.62 – 1.89 during the session.  A number of research firms have recently weighed in on the stock, providing future price targets. The covering firms currently have a consensus one-year price target of $2.20 on the stock.  This is according to brokerage analysts polled by Thomson Reuters First Call.  This is the average number from the individual targets provided by the firms.  Analysts are projecting earnings per share of $0.00 for the next fiscal quarter.  For the current year, analysts are predicting earnings of $-0.11 per share according to First Call.

In looking at where the stock is trading on a technical level, the stock is trading +14.25% away from its 50-day moving average of $1.61.  Based on the most recent available data, the equity is -2.65% off of its 52-week high of $1.89 and +127.16% away from its 52-week low which is $0.81.

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In looking further ahead, potential investors should note that the company’s price to next year’s EPS estimates is 61.33.  Today, the stock opened at $1.63 and the last bid at the time of writing stood at $1.84.  During the session thus far, the equity dipped down to $1.62 and touched $1.89 as the high point.  iPass, Inc. (NASDAQ:IPAS) has a market cap of $120.73M and has seen an average daily volume of 159349 over the past three months.

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