Affluence Corporation agrees to definitive terms to acquire FlexiScale Technologies, Ltd and Flexiant IP Ltd
Jan 28, 2021, 08:40 ET
OAK BROOK, Ill., Jan. 28, 2021 /PRNewswire/ -- Affluence Corporation (OTC-PINK: AFFU), 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.
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 +1 720-295-6409, [email protected]
SOURCE Affluence Corporation
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