Under the Symbol:
Affluence Corporation to Acquire Flexiant IP Ltd
Tuesday, June 16, 2020 9:15 AM
OAK BROOK, IL / ACCESSWIRE / June 16, 2020 / Affluence Corporation (OTC PINK:AFFU), a diversified technology company focusing on innovative Edge Cloud and 5G enhancing technologies, announced today that it has entered into a Letter of Intent with Flexiant IP Ltd to acquire the business. The terms of the acquisition remain undisclosed at this point in time.
"This is one of several planned acquisitions we intend to execute this year," said James Honan, Jr. Affluence's CEO. "Flexiant is a leading cloud orchestration business and provides solutions aimed solely at helping service providers capture the cloud market opportunity. Cloud orchestration is an essential part of offering any cloud services. Not only does it offer cost saving and automation benefits to cloud service providers, it also enables them to innovate and differentiate to drive revenue growth. For consumers of public cloud, cloud orchestration is essential for self-service provisioning, accurate metering and billing and centralized capabilities for everything cloud," said Honan.
"We are very pleased that the Flexiant offering will grow and evolve through this acquisition by Affluence," said Rajinder Basi, CEO of Flexiant. "We are very impressed by Affluence's strategic long-term vision in relation to 5G, IoT and Edge Cloud solutions and look forward to the innovative approach that Affluence will bring to Flexiant," said Basi.
"Transformation in edge cloud technology will impact robotics, AI, healthcare, manufacturing, data centers, mobile devices, smart cities, and ‘autonomous things', These new technologies will bring dramatic performance improvements such as faster speeds, improved data capacity and lower latency. Affluence is creating a family of companies that will help to drive this transformation" said Rohan Chanmugam, Board Member Affluence.
About Affluence Corporation.
Affluence Corporation (AFFU.PK) is a holding company primarily focused on the acquisition and roll-up of synergistic companies providing 5G enhancing infrastructure and technologies, edge computing and innovative cloud solutions. We are investing in mid-market businesses to create a cohesive unit which brings together technology for the next generation of internet.
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. https://www.flexiant.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 at 720-295-6409.
SOURCE: Affluence Corporation