Affluence Corporation Reveals Asia-Africa Strategy After ISLP Technologies Acquisition

Rhea-AI Summary

Affluence Corporation (OTC PINK: AFFU) announced a strategic initiative to expand its operations in Asia and Africa, following its acquisition of ISLP Technologies. The plan includes acquiring and partnering with tech companies to enhance its offerings. CEO James E. Honan highlighted ongoing negotiations with a major telecom firm in Asia to develop fiber technology infrastructure. Additionally, a Global Services Delivery Centre is being established in India to boost project delivery capabilities.

Positive

• Strategic acquisition of ISLP Technologies enhances market presence in Asia and Africa.
• Ongoing negotiations with a major telecom company create potential for significant market expansion.
• Establishment of Global Services Delivery Centre in India to enhance project delivery capabilities.

Negative

• None.

OAK BROOK, IL / ACCESSWIRE / May 5, 2021 / Affluence Corporation (OTC PINK:AFFU.PK), a diversified technology company focusing on innovative IoT and 5G enhancing technologies today announced and initiates implementation of its strategy to build business in Asia and Africa. The strategy includes identification of potential target companies and businesses for acquisition and partnerships and establishing the management team for development and management of business in Asia and Africa. As part of this strategy, all opportunities in India are being consolidated under ISLP Technologies, its subsidiary in India.

"The ISLP Technologies acquisition is the beginning of a very carefully thought out and patient strategy," said James E. Honan, Jr., Affluence's CEO. "We are currently finalizing negotiations and engagement with one of the largest telecom companies in Asia. Under this engagement, we will build fiber technology-based complementary infrastructure and deliver technology products and services through an ‘Aggregation Platform' to the existing and new subscribers of the said telecom company in addition to our OneMind Smart City Software. We are in active discussions to either acquire or partner with multiple technology companies to provide a comprehensive technology platform and services with cutting-edge technologies. The technologies that we are currently looking to add in our portfolio are edge cloud computing, additional IoT solutions, big data analytics, cyber security and emergency response systems," said Honan.

"We are building a team of highly talented, well qualified and experienced senior management to develop and manage business in Asia and Africa. As part of this exercise, we are setting up a Global Services Delivery Centre in India to further strengthen our ‘Project Delivery Capacity'. This GSDC will assume the responsibility of delivery of large-scale projects globally on product development, services and remote infrastructure management in IT and Telecom sector," said Avinash Bector, President and CEO of Affluence Asia and Africa. "The senior professionals joining our team have prior C-Level global experience with multi-national corporations such as Motorola, Accenture and Infosys, as well as large companies in India such as BSNL, a leading Telecom Tower company, and Government agencies such as Department of Telecom, in India. The senior management has significant experience in IT and Telecom industry and have worked with the highest levels in the Industry and Government on multiple large-scale projects in their respective careers," said Bector.

About Affluence Corporation

Affluence Corporation (AFFU.PK) is a diversified technology company focused on innovative software solutions that capitalize on IoT, AI and 5G technologies. We are investing in mid-market businesses to create a cohesive unit that brings together technology for the next generation of internet.

About ISLP Technologies

ISLP is a diversified technology company focused on telecom services and technologies. ISLP is one of the many success stories from the Indian Institute of Technology (IIT) Incubator in Delhi. ISLP builds customized digital solutions utilizing cutting edge technologies such as block chain, AI, Machine Learning, Business Intelligence and Data Science.

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. The OneMind Smart City solution is deployed in Barcelona, San Francisco, Guadalajara, Oslo and many other cities throughout the world. For more information go to 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 forwardlooking 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.

SOURCE: Affluence Corporation

View source version on accesswire.com:
https://www.accesswire.com/644705/Affluence-Corporation-Reveals-Asia-Africa-Strategy-After-ISLP-Technologies-Acquisition

FAQ

What is Affluence Corporation's strategy for Asia and Africa?

Affluence Corporation is focusing on identifying potential acquisitions and partnerships in Asia and Africa to enhance its technology offerings, particularly after acquiring ISLP Technologies.

What does the acquisition of ISLP Technologies mean for AFFU?

The acquisition of ISLP Technologies is expected to strengthen Affluence's foothold in the Asian market and potentially drive revenue growth through enhanced technology services.

Is Affluence Corporation partnering with any telecom companies?

Yes, Affluence is in negotiations with one of the largest telecom companies in Asia to develop complementary fiber technology infrastructure.

What is the purpose of the Global Services Delivery Centre in India?

The Global Services Delivery Centre in India aims to enhance Affluence's project delivery capacity and manage large-scale projects in the IT and telecom sectors.

How will the new management team impact Affluence Corporation's business?

The new management team, with extensive experience in IT and telecom, is expected to drive the company's strategic initiatives and growth in Asia and Africa.