Affluence Corporation announced it has executed a Letter of Intent to acquire next generation Edge Cloud Service provider Flexiscale Technologies Ltd.. Terms of the transaction were not disclosed.
Affluence is a holding company focused on acquiring Edge Cloud and 5G enhancing technologies.
“Flexiscale’s transformational technology enables users to create Nano Clouds which significantly improve data speed and performance while reducing computing power and costs associated with large data centers,” explains James E. Honan, Jr. Affluence’s CEO. “As 5G is implemented, Flexiscale will enable companies to create their own data centers and clouds. Flexiscale’s approach and technology gives us a significant first mover advantage in being able to reduce the size of the data center and deliver edge computing closer to the customer. There is presently nothing like it in the market. According to Gartner, edge computing will be a $700 billion market by 2028,” said Honan.
“The Affluence acquisition is very strategic for Flexiscale,” comments Rajinder Basi, CEO of Flexiscale Technologies Ltd. “We believe that the Flexiscale technology will change the data center paradigm as we know it today. The technology is based on our nano nodes which enables the mass reduction in footprint so the datacenter can exist in a Nano-cloud at the tower base station or be expanded to create micro-clouds or metro-clouds by stringing multiple nodes together using Flexiant, our edge orchestration software. Most large edge computing is still in the development stage, while our technology is in production today. Being part of Affluence will enable Flexiscale to execute on our technology roadmap and solidify industry partnerships.”
Affluence | edge hardware | edge platform | Flexiscale | public edge cloud