Oak Brook, IL. January 28, 2021 – 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 of 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 E. 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.
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.