LAKE MARY, Fla., March 6, 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 is excited to announce that it has signed a 5-year cooperation agreement with Hochschule Darmstadt University of Applied Sciences in Germany to establish and operate the Company's worldwide testing and certification center for its current and future Panovirtualization products catered to enterprise customers.

Hochschule Darmstadt, highly selective in student admission and internationally recognized for its outstanding achievements in the areas of engineering and computer science, is the ideal cooperation partner to host Thinspace Technology's center for innovation and product development. The University's Department of Electrical Engineering and Information Technology (EIT) is comprised of the world's brightest faculty and students, which will be actively utilized in the establishment and operation of Thinspace's worldwide virtualization product testing and certification center. The University is known for its substantive work with major global multinational companies' including Siemens, Bosch, Daimler, BASF, and Porsche.

"Darmstadt's international recognition, impressive student and faculty body, and excellent track record of work with such names as Siemens and Bosch make this partnership very exciting for Thinspace Technology. We are delighted to be working with them, as it will not only substantially enhance our product development roadmap, but also facilitate future product and partnership opportunities," stated Robert Zysblat, President of Thinspace Technology.

"Used extensively throughout the University, we have a close relationship with Thinspace's Panovirtualization products and are excited to enhance this relationship by hosting its global center for product innovation and development. At core of EIT faculty and students is the commitment to excellence in product innovation, engineering, development and service. Thinspace's current and future virtualization product portfolio will benefit from this commitment as well as from our extensive array of resources and network of relationships with Germany's leading enterprises, in the time ahead," commented, Hubert Langenstein, IT Director, Hochschule Darmstadt University of Applied Sciences.

Additional terms of the agreement include the right and responsibility of Hochschule Darmstadt University to test new products coming through the Thinspace Technology pipeline. The university gains the ability to stay on the cutting edge of technology in the virtualization space and keeping their students ahead of the technology curve. It also allows the University to uphold its reputation in the business community by holding open house events where they show off the new technology which is in pre-release phases.

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 Lake Mary, 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.