OneSoft Subsidiary, OneBridge and EMDAD LLC Enter into Teaming Agreement to Pursue CIM Adoption in Middle East Markets
OneSoft Solutions Inc. (TSXV:OSS)(OTCQB:OSSIF) has entered a Teaming Agreement with EMDAD LLC to market the Cognitive Integrity Management (CIM) software. This strategic collaboration aims to enhance pipeline management for oil and gas in the UAE and Middle East. OneBridge will provide technical and marketing support, while EMDAD offers engineering and implementation services. They will jointly present at the Abu Dhabi International Petroleum Exhibition & Conference from November 9-12, 2020, aiming to leverage key themes of technology and innovation.
- Collaboration with EMDAD to market CIM software enhances service offerings.
- Joint presentation at ADIPEC conference targets a large audience of O&G industry stakeholders.
- CIM software aims to improve pipeline integrity management and reduce operational costs.
- The shift to a virtual format for ADIPEC may limit engagement opportunities compared to previous years.
- Reliance on forward-looking statements could lead to discrepancies between expected and actual results.
EDMONTON, AB / ACCESSWIRE / November 5, 2020 / OneBridge Solutions Canada Inc. ("OneBridge"), a wholly owned subsidiary of OneSoft Solutions Inc. (TSXV:OSS)(OTCQB:OSSIF) (the "Company" or "OneSoft") and EMDAD LLC, an Abu Dhabi-based integrated solution provider for the energy sector ("EMDAD") are pleased to announce a collaborative initiative to market and deploy OneBridge's Cognitive Integrity ManagementTM ("CIM") software-as-a-service ("SaaS") solution to manage oil and gas ("O&G") pipelines for EMDAD's clients in the United Arab Emirates and other select Middle East regions ("Teaming Agreement").
Pursuant to the spirit and terms of the Teaming Agreement OneBridge will contribute training and technical, marketing and sales support services to assist EMDAD to conduct production trials and commercial onboarding projects, with EMDAD providing high-value engineering, implementation and support services associated with CIM for its O&G clients.
The parties intend to kick off this joint effort by co-presenting as exhibitors to a target audience of EMDAD clients at the upcoming Abu Dhabi International Petroleum Exhibition & Conference ("ADIPEC") conference on November 9-12, 2020. Although the ADIPEC conference is normally hosted annually in Abu Dhabi as an attended event, drawing 155,000 trade visitors, 2,200 exhibiting companies and 11,000 conference delegates, the 2020 event will be held as a virtual venue due to challenges posed by Covid. This conference provides an opportunity to introduce CIM to attendees whose focus will be on key conference themes including "Building Future Business Resilience Through Technology, Innovation and Partnerships"; "Environmental, Social Governance ("ESG") and the O&G Industry in a Post-pandemic World"; and "Workforce of the Future: Positioning For Success In A Time of Change".
"Commencing this working relationship with OneBridge and CIM is very timely for both our clients and our company," said Aly Abdel Malak, EMDAD CEO. "The collaborative relationship with OneBridge fully aligns with EMDAD's strategy to advance higher value services for our clients by implementing next generation artificial intelligence, machine learning and digital transformation technologies that will greatly benefit our clients in their future operations."
"We strongly believe that CIM's automated capability to ingest, normalize, aggregate and analyze the multitude of data sets with machine learning and data science, more than any other single advancement in technology, will be the winning strategy to improve pipeline integrity management, save operational costs and ultimately reduce and stop pipeline failures," added Tim Edward, OneBridge President. "We are very pleased to be working with EMDAD, an innovative and agile industry leader in the U.A.E. and surrounding markets."
About EMDAD LLC
EMDAD, formerly operating as Al Bawardi since its inception in 1979, has kept pace with steady development that defined the industrial landscape of the United Arab Emirates. By utilizing its own resources and integrating partner capabilities, EMDAD has enabled key energy players in Abu Dhabi and certain other Middle East regions to achieve higher levels of reliability and performance by incorporating its core business expertise and select innovative technologies to provide integrated solutions for its upstream and downstream O&G clients. Visit www.emdad.ae for more information.
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 [NASDAQ: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 | Sean Peasgood, Investor Relations |
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
What is the significance of the Teaming Agreement between OneSoft and EMDAD?
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