OneSoft Solutions Announces First Customer in South America
OneSoft Solutions has secured its first South American client, a major pipeline operator in Colombia, for its OneBridge subsidiary's Cognitive Integrity Management (CIM) software-as-a-service (SaaS) platform. The client, a leading midstream pipeline operator, manages nearly 9,000 kilometers of oil and polyducts, essential for Colombia's crude and refined products transport. This multi-year agreement marks a significant expansion of OneSoft's international customer base. The implementation will commence shortly, involving a notable international consulting firm to aid in onboarding, aiming to establish a foothold for future sales in South and Central America.
- Secured first South American client, expanding international footprint.
- Client manages nearly 9,000 kilometers of pipelines, demonstrating significant operational scale.
- Multi-year agreement ensures long-term revenue stream.
- Potential for additional sales in South and Central America via established relationships.
- Engagement with a large consulting firm enhances implementation capability and local expertise.
- New market entry could entail unanticipated challenges and costs.
- Dependence on a consulting firm may increase expenses and dependency.
Contract Continues Expansion of International Customer Base
EDMONTON, AB / ACCESSWIRE / June 5, 2024 / OneSoft Solutions Inc. (the "Company" or "OneSoft") (TSXV:OSS)(OTCQB:OSSIF), a North American developer of cloud-based business solutions, announces that its wholly owned OneBridge subsidiary has signed a multi-year agreement wherein a large South American pipeline operator (the "Client") will onboard the Company's Cognitive Integrity Management ("CIM") software-as-a-service ("SaaS") platform to manage its pipeline assets.
The Client is part of a group of companies dedicated to the transport and logistics of hydrocarbons, a leading midstream pipeline operator working in the Colombian oil chain, the second-largest company by asset value and is amongst the 10 largest companies by operating income and profits in the country. The Client operates nearly 9,000 kilometers (>5,000 miles) of oil and polyducts through which most of Colombia's crude and refined products are transported and, together with several subsidiaries, provides infrastructure and logistics services for the transport of hydrocarbons and their derivatives, gas, biofuels and energy, generating confidence in Colombia's capacity and potential to manage its energy resources.
"This is our first engagement with a South American client, which necessitated addressing several different factors from what we normally encounter with our U.S. customers," stated Brad Eichelberger, OneBridge VP of Sales. "We are very pleased that we can address their unique requirements with our CIM platform, strengthen it as a whole and view this relationship as a beachhead for additional sales projects that we believe we can close with other South and Central American customers in the future."
Implementation of our CIM platform is scheduled to commence imminently. Our intent is to involve a large international consulting firm that maintains a large contingent of Central and South American-based employees in the onboarding of CIM for this Client, who will shadow the OneBridge staff and train to implement CIM for subsequent customers in the region.
About OneSoft and OneBridge
OneSoft has developed software technology and products that have capability to transition legacy, on-premises licensed software applications to operate on the Microsoft 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 subsidiaries, OneBridge Solutions Canada Inc. and OneBridge Solutions, Inc., develop and market 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.
| OneSoft Solutions Inc. Dwayne Kushniruk, CEO dkushniruk@onesoft.ca 587-416-6787 | 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 OneSoft Solutions Inc. (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: the impact of Covid-19 on the business operations of the Company and its current and prospective customers; 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 and 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 is reasonably accurate; that counterparties to material agreements will continue to perform in a timely manner; that there are no unforeseen events preventing the performance of contracts; that there are no unforeseen material development or other costs related to current growth projects or current operations; the success of growth projects; future operating costs; interest and foreign exchange rates; planned synergies, capital efficiencies and cost-savings; the sufficiency of budgeted capital expenditures in carrying out planned activities; and no changes in applicable tax laws. 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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