Affluence
Corporation agrees
to definitive
terms to
acquire FlexiScale
Technologies,
Ltd and Flexiant IP Ltd
Oak Brook, IL
-- January
28,
2021 --
InvestorsHub NewsWire -- Affluence Corporation
(AFFU.PK),
a
diversified technology company focusing on innovative
Edge Cloud
and 5G enhancing technologies, and FlexiScale Technologies,
Ltd. a leader in Edge Computing and Cloud
Creation platforms announced today
that the
companies have agreed to terms for the
acquisition FlexiScale Technologies
and
Flexiant. The companies will
execute definitive documents in the First
Quarter.
The terms of the
transaction are not available at this
time.
"This
is a major milestone for Affluence and is the key to our strategy
moving forward", said James Honan,
Jr.,
Affluence's
CEO. "FlexiScale is a transformational
technology that enables users to move their data centers to the
edge and create Nano Clouds which
significantly improves data speed and performance while reducing
computing power and costs associated with large data
centers. Most large edge computing is
still in the development stage, while the FlexiScale technology is
in production today and FlexiScale products have beaten out several large
competitors in head-to-head proof of concept evaluations.
Flexiant cloud
orchestration software provides solutions aimed at helping
Telco
and
Service
providers deliver key Cloud & Edge Cloud services, with
end-to-end provisioning, automation, customer control, service
management and billing. Cloud infrastructure, platform and
application workloads can be accessible from a single dashboard
with complete global control. For consumers of public cloud, cloud
orchestration is essential for self-service provisioning, accurate
metering and billing and centralized capabilities for everything
cloud. According to Gartner, edge
computing will be a $700 billion market by 2028," said Honan."
"We
are thrilled to become a part of Affluence
Corporation
and we will
have a significant
impact of its strategic
direction and long-term growth," said Rajinder
Basi, CEO of
FlexiScale, Ltd. "Affluence will enable us to
expand our edge computing business and bring additional worldwide
partnerships. We presently have multiple large sales
opportunities which now that we will be a part of Affluence, we will be able to close
on
a timelier
basis. Additionally, combining
FlexiScale using Flexiant
with Affluence's
OneMind Smart City and Situational Awareness software products we
will create an Edge Smart City/Situational Awareness product that
is not available in the market today," said Basi.
About
Affluence
Corporation
Affluence Corporation (AFFU.PK)
is a diversified technology company focused on edge computing and
innovative cloud solutions that capitalize on IoT, AI and 5G
technologies. We are investing in mid-market businesses to create
a cohesive unit which brings together
technology for the next generation of internet.
About
FlexiScale
Technologies, Ltd
Flexiscale Technologies
Ltd.
is a next
generation Edge Cloud Service provider using its scalable modular
Edge Cloud Nano Node infrastructure that allows customers and
application service providers to rapidly launch their edge
applications and services on any Flexiscale Edge Cloud location.
Flexiscale Edge Cloud is agile and delivered using its "datacenter
in a box" Nano Node, a scalable, innovative and energy efficient
"green" technology reducing datacenter footprint. Customers also
benefit from a lower operating cost with minimal environmental
impact, compute and fast storage, and its Edge Orchestration
software, Flexiant.
Partnered with Flexiant,
Flexiscale Edge Orchestration provides infrastructure, platform and
application services with end to end workflow and business
automation, enabling any customers to rapidly deliver cloud
solutions through an easy to use self-service cloud
interface.
Flexiscale's technology is
Telco and Service provider ready, can be located anywhere – on
rooftops, underground, factories, offices, 5G locations etc. It
enables application providers and data providers, to allow
customers to deliver their solutions, applications, and workloads
to any Edge location globally. It also provides a range of computer
and hybrid cloud services with rapid provisioning of on demand
services.
Flexiscale Edge Cloud is a
major step change in the evolution of the next generation internet,
transforming and transitioning the future of the datacenter and the
cloud.
About
Flexiant
Flexiant has been named a
Gartner Cool Vendor in Cloud Management and received the Info-Tech
Research Group Trendsetter Award for two consecutive years.
Flexiant provides solutions aimed solely at helping service
providers capture the cloud market opportunity. Flexiant has
equipped service providers with the solutions essential to launch
revenue generating cloud services quickly and easily.
About OneMind
Technologies SL
OneMind Technologies SL is a
wholly owned subsidiary of Affluence Corporation. The OneMind
Intelligent IoT solution builder is used to create applications for
smart construction and smart city operations. Functioning as
systems of systems, OneMind connects data sources to one single
point of insight to provide real-time information on operational
processes. It is a key component in the enterprise solutions
currently being offered by several Fortune 50 companies that
resell, distribute and integrate smart city enterprise
solutions.
https://www.onemindtechnologies.com
This press
release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. There are
important factors that could cause actual results to differ
materially from those expressed or implied by such forward-looking
statements, including: general economic business conditions,
competitive and technological factors, markets, services, products
and prices, availability and the cost of capital, success of growth
initiatives, limited operating history and other factors discussed
in our filings with the Securities and Exchange Commissions.
Additionally, this release may not be considered as legal,
accounting, or investment advice, and is not, and may not be
considered, a solicitation for the purchase of any securities
issued by Affluence
Corporation.
For further
information contact Affluence Corporation Investor
Relations at 720-295-6409.
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