Smart City Software and Innovative Solutions that Capitalize on IoT, AI and 5G Technologies.
First Software as a Service (SaaS) Customer and First US Customer Through Dell Technologies Partnership.
Exhibiting with Partners Dell and Nvidia at the Upcoming Smart City Expo World Congress 2023 Conference in Barcelona, Spain.
Joined with Orange Business Services to Participate in Signing Ceremony for the King Abdullah Financial District Project.
Multi-Million Dollar Contract for Smart City Project in Saudi Arabia's Capital.
Second Quarter Revenue of $563,275 and Net Income of $42,322.
Q2 Revenue Approximately 13% Higher Than Same Period Last Year.
Expansion Into South America Through Partnership with Globe S.A.
Multi-Million Dollar Contract for Smart City Project in Saudi Arabia's Capital.
Affluence Corporation (OTC: AFFU) is a diversified technology company focused on smart city software and innovative solutions that capitalize on IoT, AI and 5G technologies. AFFU is investing in mid-market businesses to create a cohesive unit which brings together technology for the next generation of internet.
OneMind Technologies SL is a wholly owned subsidiary of AFFU. The OneMind Intelligent IoT solution builder is used to create applications for smart construction and smart city operations. Functioning as systems of systems, AFFU 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. The AFFU OneMind Smart City solution is deployed in Barcelona, San Francisco, Guadalajara, Oslo and many other cities throughout the world. For more information go to https://www.onemindtechnologies.com
AFFU Subsidiary OneMind Technology on Display with Dell and Nvidia at the Smart City Expo World Congress 2023 Conference
On October 19th AFFU announced that its subsidiary OneMind Technology and its hypervisor OnemindNG product will be on display with AFFU partners Dell Technologies (NASDAQ: DELL) and Nvidia Software (NASDAQ: NVDA) at the Smart City Expo World Congress 2023 Conference to be held in Barcelona, Spain from November 7th to 9th. The Smart City Expo World Congress 2023 is the premier international event for the smart city sector and over 25,000 attendees are expected.
“OneMind Technologies is honored to be asked to participate alongside of our partners Dell Technologies and Nvidia Software at the world’s most prestigious Smart City event,” said Stephane Eyme, Global CEO of AFFU owned OneMind Technologies. “We have made tremendous strides since attending the show with Dell and Nvidia last year and this year as a result of our attendance we have won substantial purchase orders in the Middle East, Latin America and North America. Additionally, we have partnered with Dell for a Smart University solution with the first one delivered at Nova Southeastern University in Fort Lauderdale, Florida last quarter and we have several opportunities with large universities in our current pipeline. We are extremely proud and excited to be able to demonstrate how the IotT hypervisor OneMind NG solution can help add value to intelligence systems and manage and prevent safety, security and digital city incidents. Please stop by the Dell Technologies and Nvidia Software stand to view Dell’s Digital City Solution, Powered by OneMind Technologies,” said Mr. Eyme.
AFFU and Orange Business Services Participate in Signing Ceremony for the King Abdullah Financial District Project
On September 13th AFFU and Orange Business Services (ORANNYSE) attended a formal signing ceremony for the first phase of the King Abdullah Financial District (KAFD) Project. The agreement was signed on Sept. 4 at a formal ceremony hosted by KAFD. In attendance were Gautam Sashittal, CEO of KAFD DMC, Sahem Azzam, senior vice president of Middle East, Africa, and Turkey of Orange Business and Stephane Eyme Global CEO of AFFU.
King Abdullah Financial District Development & Management Co. chose Orange Business, to design, build and run an advanced smart city platform that will seamlessly integrate with KAFD's existing digital infrastructure utilizing the AFFU OneMindNG Technologies' Hypervisor as the key component of the platform. This strategic partnership aims to incorporate advanced technologies including artificial intelligence and data analytics into the existing platform, enhancing the smart city experience within the area, known as Saudi Arabia's premier business district.
"The development of KAFD's digital infrastructure aligns with Saudi Arabia's Vision 2030, as the Kingdom strives to enhance livability and competitiveness within its business districts." Gautam Sashittal, CEO of KAFD DMC, said: "The increasing wave of urbanization across the world is set to uncover a $517 billion market for smart city solutions with an annual growth rate of 25 percent, a fact that plays into KAFD's objectives of building a future-proof and business-friendly hub in Riyadh."
"This is a tremendous long-term opportunity for OneMind and solidifies our position as the technology leader in the Smart City Software market," said Stephane Eyme, Global CEO of AFFU. "The KAFD project is the largest and most significant smart city project in the world and the entire Smart City market is watching this and taking note. This is our largest win to date and again the architecture and flexibility of our product to ingest any type of data were instrumental to award us during this very competitive tender process against first tier companies. In the Smart City market and the Big Data market there are multiple systems that require data inputs from a myriad of sources, what makes our product superior is that we seamlessly integrate all disparate data sources giving the customer a unified view allowing them to utilize their existing infrastructure. In contrast our competitors can only work within their own proprietary data sources. This is the second large opportunity won through Orange Business with our product being one of the key elements. As a premier technology awarded Best Partner MEA last year by Orange Business, we are extremely happy with the partnership and look forward to continued growth and opportunities within KAFD and throughout the Orange Business customer base," continued Eyme.
AFFU Second Quarter Revenue and Net Income
On August 22nd AFFU released its earnings for the Second Quarter of 2023.
Highlights included:
Revenue of $563,000
First Software as a Service (SaaS) customer
First US customer from the Dell Technologies partnership
“The second quarter was a quarter of firsts for our company, we had our first Software as a Service (SaaS) customer and we had our first US customer through our Dell Technologies (DELL NYSE) partnership,” said James E Honan, Jr., CEO of AFFU.
“I am extremely proud of our team and delighted to announce quarterly revenue of $563,275 and net income of $42,322. Absolute quarter over quarter revenue was down but when you analyze the composition of the revenue you will understand the decline. In the second quarter we made a conscious decision to add more predictability to our revenue stream by offering a SaaS alternative for our customers. Even with the SaaS revenue, Q2 revenue is approximately 13% higher than the same period last year. It is our belief that offering a SaaS option into the Smart City Software market will increase our reach and positions us well for the future. Going forward our sales pipeline continues its steady growth with both enterprise software and SaaS opportunities and I am extremely excited about our prospects for the remainder of this year and beyond,” said AFFU CEO Honan.
Being able to offer a SaaS alternative will open up more opportunities for OneMind and reduce the time required to close sales,” said Stephane Eyme, Global CEO of AFFU OneMind Technologies. “Our development team did a fantastic job in producing a SaaS version of our best-in class enterprise software product in such a short period of time. Equally as important and not to be taken lightly is that we received our first US based customer from our Dell Technologies partnership. Prior to this quarter all of our sales through the Dell channel have been in the Middle East and Asia. OneMind was prominently featured at Dell World in Q2 and as a result we received our first US customer shortly after and have several more Dell US opportunities in our pipeline. I am very excited to unleash the power of the entire Dell Technologies US based sales team,” said AFFU OneMind Technologies CEO Eyme.
AFFU OneMind Technologies Expands into South America Through Partnership with Globe S.A.
On July 10th AFFU announced that its wholly owned subsidiary OneMind Technologies had increased its sales presence in South America through its partnership with Globe, S.A., one of the premier value added services, distribution and integrators in South America.
"The partnership with Globe has already started paying dividends," said Stephane Eyme, Global CEO of AFFU OneMind Technologies. "Globe has included OneMind's Hypervisor NG into a very large, high profile smart city project in Chile and we were able to recognize revenue from that project in Q2. Of particular note is that this project incorporated the SaaS capabilities of Hypervisor NG. Our long-term strategy is to have a mix of enterprise software and subscription revenue to build a more predictable revenue stream. We are extremely satisfied with the relationship with Globe, their professionalism and reach in South America is what makes them the top integrator in the geography. We have been working with Globe since October and have found that there is pent up demand throughout South America to centralize and manage data from multiple sub-systems such as traffic, parking, smart traffic lights, GPS positioning of busses and first responders, air quality, waste collection, water systems, CCTV and license plate recognition in a single panel view in all major metropolitan areas of this geography. We are looking forward to continued growth in the partnership and have multiple joint opportunities in our pipeline," said AFFU CEO OneMind Technologies Eyme.
"Incorporating OneMind's Hypervisor NG in our portfolio will allow us to compete and implement projects with a "Best-In-Class" solution that enables a comprehensive vision which enables more efficient management and holistic intelligence so users can process and act on information from different systems and data sources, something that has been lacking up until now," said Jaime Godoy, CEO of Globe
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Media Contact
Company Name: Affluence Corporation
Contact Person: James E Honan, Jr, CEO
Email: Send Email
Phone: 702.295.6409
Address:875 North Michigan Avenue Suite 3100
City: Chicago
State: IL 60611
Country: United States
Website: https://affucorp.com/
