Affluence Corporation (OTC PINK:AFFU), a diversified technology company focusing on innovative Edge Cloud and 5G enhancing technologies, announced today that the company has executed a Letter of Intent to acquire Flexiscale Technologies Ltd. The terms of the transaction are not available at this time.
“Flexiscale’s transformational technology enables users to create Nano Clouds which significantly improve data speed and performance while reducing computing power and costs associated with large data centers,” said James E. Honan, Jr. Affluence’s CEO. “As 5G is implemented, Flexiscale will enable companies to create their own data centers and clouds. Flexiscale’s approach and technology gives us a significant first mover advantage in being able to reduce the size of the data center and deliver edge computing closer to the customer. There is presently nothing like it in the market. According to Gartner, edge computing will be a $700 billion market by 2028,” said Honan.
“The Affluence acquisition is very strategic for Flexiscale,” said Rajinder Basi, CEO of Flexiscale Technologies Ltd. “We believe that the Flexiscale technology will change the data center paradigm as we know it today. The technology is based on our nano nodes which enables the mass reduction in footprint so the datacenter can exist in a Nano-cloud at the tower base station or be expanded to create micro-clouds or metro-clouds by stringing multiple nodes together using Flexiant, our edge orchestration software. Most large edge computing is still in the development stage, while our technology is in production today. Being part of Affluence will enable Flexiscale to execute on our technology roadmap and solidify industry partnerships,” said Basi.
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.