OAK BROOK, IL / ACCESSWIRE / April 22, 2021 / Affluence Corporation (OTC PINK:AFFU), a diversified technology company focusing on innovative IoT and 5G enhancing technologies announced today that the company has signed a definitive agreement to acquire ISLP Technologies, India enabling entry into the exploding Indian 5G and telecom market.
ISLP Technologies is a premier IT & Telecom services company incubated at "Technology Incubation Unit" at IIT Delhi, India and brings multiple large contracts that will utilize the Affluence product suite.
"The acquisition of ISLP will allow us to continue to build on our strategy of developing a global footprint and is a direct response to multiple opportunities in our sales pipeline in the Indian market that is growing exponentially," said James E. Honan, Jr., Affluence's Global CEO. "The first high-profile large value project ISLP delivers under the Affluence banner is with one of the largest telecom companies in India where we will deploy solutions from our portfolio of Technologies enabling this large telecom company to offer additional products and capabilities to its large existing customer base. In addition to the professional services, the project will also prominently feature OneMind Smart City Solutions. We expect to make a joint announcement with the Indian telecom company in the next 30 days," said Mr. Honan.
"The acquisition of ISLP will uniquely position Affluence for multiple opportunities in the Indian market. ISLP has a pipeline of additional projects in the growing multi-dimensional landscape of Technologies, Products and Services which includes initiatives on "Digitalization" of various businesses and processes in India as well as 5G and IoT enabling technologies said Avinash Bector, President & CEO, Affluence Corp for Asia & Africa markets. "Being part of Affluence Corp, ISLP will have access to various Technologies from the ever-increasing portfolio to up-sell/cross-sell to its existing and future Customers, Access to Global markets through other group companies and finance for expansion of its business activities," said Mr. Bector.
About Affluence Corporation
Affluence Corporation (AFFU.PK) is a diversified technology company focused on innovative cloud solutions that capitalize on IoT, AI and 5G technologies. We are investing in mid-market businesses to create a cohesive unit which brings together technology for the next generation of internet.
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. https://wwwonemindtechnologies.com.
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 block chain, AI and Machine Learning, IoT and BI and Data Science.
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 Investor Relations at 720-295-6409.
SOURCE: Affluence Corporation
View source version on accesswire.com:
https://www.accesswire.com/641776/Affluence-Corporation-Announces-Entry-Into-Indian-Market-Through-Acquisition-of-ISLP-Technologies
