EDMONTON, ALBERTA--(Marketwired - Feb. 5, 2016) - OneSoft Solutions Inc. (the "Company" or "OneSoft") (TSX VENTURE:OSS), a North American developer of cloud business solutions is pleased to confirm that its wholly owned subsidiary, OneBridge Solutions Inc. ("OneBridge") has commenced the previously announced Microsoft Ventures Accelerator program to integrate Microsoft's machine learning and other new Cloud technologies into its software applications for the oil and gas pipeline industry.
Microsoft Ventures Accelerator is a mentor-driven program aimed at assisting companies to accelerate their development and scale up their operations. Companies accepted to the program gain access to top business mentors, cutting edge technology and marketing experts, office space and other resources to help them advance their business strategies. The program provides exposure to investors who are seeking cloud technology investment opportunities and provides warm introductions to major corporations who are Microsoft customers, who may be suited to become early adopters of the new OneBridge cloud solutions.
Over the past few months, Microsoft has been searching for the most dynamic entrepreneurs with the biggest visions and most disruptive, innovative ideas. This search involved travel to 12 cities and discussions with more than 2,500 business founders, from which 721 companies from more than 50 countries around the world were investigated by Microsoft Ventures. Click on https://www.microsoftventures.com/blog/entry/FromDiscoverytoSelectionAnnouncingtheSeattleAcceleratorsThirdBatch%7C6148 to see the full Microsoft announcement.
"After a rigorous review process, we narrowed the field to 26 startups and invited them to Seattle for "Jury Day", the last step in our selection process" stated Hanan Lavy, director of the Microsoft Ventures Accelerator in Seattle. "Our panel of 50 jury members, most of them external to Microsoft, included investors, partners, customers, entrepreneurs, data scientists and even psychologists. I am thrilled to now announce that OneBridge Solutions has been selected as one of the 10 companies to participate in our next Seattle Accelerator for machine learning and data science. There's no doubt machine learning and data science will be used to reinvent, digitalize or eliminate business processes and products in the near future, and Microsoft's technology fits very well as integral components of the strategies and software applications that OneBridge envisions."
"We are very excited to be involved with the Accelerator project with Microsoft" remarked Brandon Taylor, CTO and President of the OneBridge USA operation. "The expertise and resources that Microsoft has assembled for this program provide an extraordinary opportunity to advance not only our technology development, but also our corporate and business development initiatives."
Tim Edward, President of OneBridge Canada added, "Accelerator will assist us immensely to scale our applications and business. We look forward to working with our early adopter customers who will play an important role in partnering with us to evolve the current industry software and methodologies to revolutionary next-generation cloud solutions."
The 2016 Seattle Accelerator program which commenced on February 2, 2016 culminates in "Demo Day" on June 2, 2016, when the participants will have the opportunity to pitch their companies and products to an audience that will be assembled by Microsoft Ventures. We anticipate the audience will include approximately 250 attendees comprised of potential customers and investors, and is expected to generate significant visibility into the OneBridge business and opportunity.
Certain OneBridge personnel will be resident at Microsoft Venture's Seattle office facility (the "cloud capital of the world"), throughout the duration of the program. To assist with start-up costs, Microsoft expects to contribute more than US $500,000 to each participant of Accelerator, by way of grants to offset travel and subsistence expenses, free software, developer tools and support, and Azure usage credits which may be used during the next three years.
About OneSoft Solutions Inc.
OneSoft Solutions Inc. has developed software technology and products that have capability to transition legacy, on-premise licensed software applications to operate on the Microsoft Cloud, in conjunction with Office 365, CRM Online and Microsoft Azure. OneSoft's business strategy is to seek opportunities to convert legacy business software applications that are historically cumbersome to deploy and costly to operate, to a more cost efficient subscription based business model utilizing the Microsoft Cloud, with accessibility through any internet capable device. Visit www.onesoft.ca for more information.
About OneBridge Solutions Inc.
OneSoft's wholly owned subsidiary, OneBridge Solutions Inc., is developing revolutionary new applications for the oil and gas pipeline industry. OneBridge utilizes a single geo-spatial database that accommodates pipe-centric, structured and unstructured big data, with capability to address the key functions that pipeline companies require to manage, operate and maintain their pipelines. OneBridge solutions, which are deployed as SaaS applications on Microsoft's Azure platform, address public awareness and regulatory requirements, and utilize new Machine Learning and Data Science components of Microsoft Cloud technology to address integrity management and risk assessment. Visit www.onebridgesolutions.com for more information.
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 for the purpose of providing 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 labour and services; 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 a number of 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 as a result 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.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contact Information:
Dwayne Kushniruk
CEO
(780) 437-4950
dkushniruk@onesoft.ca