Another U.S. Multinational Company Licenses OneBridge's Machine Learning SaaS Solution
OneSoft Solutions Inc. (TSXV:OSS)(OTCQB:OSSIF) has secured a multi-year agreement with a division of a Fortune 100 company to utilize its Cognitive Integrity Management (CIM) software-as-a-service for pipeline integrity management. Initially, CIM will manage about 30% of the Client's infrastructure, with plans for full deployment. The Client, a major player in the oil and gas sector with over $40 billion in revenue, validated CIM's effectiveness during a trial phase, aligning with its digital transformation strategy. Implementation is set to begin in January 2021.
- Secured a multi-year agreement with a Fortune 100 company, expanding market reach.
- CIM software will initially manage 30% of the Client's pipeline infrastructure, with plans for future expansion.
- Positive business value and cost savings demonstrated during the production trial.
- None.
EDMONTON, AB / ACCESSWIRE / December 8, 2020 / OneSoft Solutions Inc. (TSXV:OSS)(OTCQB:OSSIF) (the "Company" or "OneSoft") is pleased to announce that a division of a Fortune 100 company (the "Client") has entered into a multi-year agreement with the Company's wholly owned subsidiary, OneBridge Solutions Inc. ("OneBridge") to use Cognitive Integrity ManagementTM ("CIM") software-as-a-service solution for one of its major pipelines in the U.S.A. The Client will initially use CIM to conduct integrity management on approximately
OneBridge VP of Sales, Dan Tipton stated, "The decision to adopt CIM dovetailed with the Client's digital transformation strategy and followed an extensive production trial wherein the Client assessed the positive business value and cost savings arising from using CIM as a key element of its integrity management program. CIM will be implemented commencing in January 2021."
"The adoption of CIM by this Client provides further validation of the high value our solution brings to the management of pipeline operations," added Brandon Taylor, OneSoft President and COO. "We wish to thank the entire Client team and Microsoft personnel who collaborated with our OneBridge team members to advance this production trial to a successful conclusion."
About the Client
The Client is a division of a progressive, high profile, multi-national Fortune 100 company that trades on the New York Stock Exchange and is engaged in a multitude of markets including Oil and Gas. With more than 35,000 employees, the company conducts business in 30+ countries and generated revenues exceeding
About OneSoft and OneBridge
OneSoft has developed software technology and products that have capability to transition legacy, on-premise licensed software applications to operate on the Microsoft (MSFT) Azure Cloud Platform. Our business strategy is to seek opportunities to incorporate Data Science and Machine Learning, business intelligence and predictive analytics to create cost-efficient, subscription-based software-as-a-service solutions. Visit www.onesoft.ca for more information.
OneSoft's wholly owned subsidiary, OneBridge Solutions Canada Inc., develops and markets revolutionary new SaaS solutions that use advanced Data Sciences and Machine Learning to analyze big data using predictive analytics to assist Oil & Gas pipeline operators to predict pipeline failures and thereby save lives, protect the environment, reduce operational costs and address regulatory compliance requirements. Visit www.onebridgesolutions.com for more information.
For more information, please contact
Dwayne Kushniruk, CEO
dkushniruk@onesoft.ca
780-437-4950
Sean Peasgood, Investor Relations
Sean@SophicCapital.com
647-494-7710
Forward-Looking Statements
This news release contains forward-looking statements relating to the future operations and profitability of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expects", "believe", "will", "intends", "plans" and similar expressions. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Such forward-looking information is provided to deliver information about management's current expectations and plans relating to the future. Investors are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions.
In respect of the forward-looking information and statements the Company has placed reliance on certain assumptions that it believes are reasonable at this time, including expectations and assumptions concerning, among other things: interest and foreign exchange rates; planned synergies, capital efficiencies and cost-savings; applicable tax laws; the sufficiency of budgeted capital expenditures in carrying out planned activities; the availability and cost of labor and services; the efficacy of its software; our interpretation based on various industry information sources regarding the total miles of pipeline in the USA and globally, which segments are piggable; our understanding of metrics, activities and costs regarding evaluation, inspection and maintenance is in alignment with various industry information sources and costs of performing pipeline evaluation, inspection and maintenance in the USA are representative of those in the rest of the world, are reasonably accurate; the success of growth projects; future operating costs; that counterparties to material agreements will continue to perform in a timely manner; that there are no unforeseen events preventing the performance of contracts; and that there are no unforeseen material development or other costs related to current growth projects or current operations. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Since forward-looking information addresses future events and conditions, such information by its very nature involves inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to many factors and risks. These include but are not limited to the risks associated with the industries in which the Company operates in general such as: costs and expenses; interest rate and exchange rate fluctuations; competition; ability to access sufficient capital from internal and external sources; and changes in legislation, including but not limited to tax laws.
Readers are cautioned that the foregoing list of factors is not exhaustive. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company undertakes no obligation to update publicly or to revise any of the included forward-looking statements, whether because of new information, future events or otherwise, except as expressly required by Canadian securities law.
This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities within the United States. The securities to be offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of such Act or other laws.
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SOURCE: OneSoft Solutions Inc.
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FAQ
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