Edmonton, Alberta, Feb. 07, 2018 (GLOBE NEWSWIRE) -- OneSoft Solutions Inc. (the “Company” or “OneSoft”) (TSX-V:OSS, OTC:OSSIF) is pleased to announce that its wholly owned subsidiary, OneBridge Solutions, Inc. (“OneBridge”), has entered into a Pilot Program agreement with another U.S.-based, Fortune 500 natural gas, oil and petrochemical company (the “Client”). The Client, whose operations include natural gas gathering, treating, processing, transportation and storage, primarily in the United States, will evaluate OneBridge’s Cognitive Integrity ManagementTM (“CIM”) SaaS solution.
MANAGEMENT COMMENTARY
“We are seeing continued traction for OneBridge’s CIM solution,” said Tim Edward, President of OneBridge Canada. “In this case, one of North America’s leading providers of midstream energy services has recognized CIM’s value proposition and is now investigating CIM in pursuit of its commitment to improve its internal processes to detect threats to its pipeline infrastructure, through digital transformation and machine learning. This Client is only one of many companies investigating our new technology, as evidenced by the high degree of interest expressed by numerous attendees that we met at PPIM last week, the world’s largest pipeline integrity management conference held annually in Houston.”
Brandon Taylor, CTO and President of OneBridge USA, added, “This pilot is another tangible result of the great support that Microsoft is contributing to help us launch our solution in the marketplace. We continue to work together with Microsoft’s sales teams to pursue opportunities that currently total approximately 350,000 miles in aggregate of U.S.-based oil and gas pipelines.”
The initial revenue associated with this contract is a nominal fixed fee which recovers OneBridge costs associated with the project. OneSoft’s objective is to retain this Client as a commercial customer that uses CIM on an ongoing basis to generate recurring revenues in accordance with the Company’s software-as-a-service (“SaaS”) business model.
ABOUT THE CLIENT
The Client is a USA-based company which, together with its publicly traded partnerships, is a leading North American provider of midstream energy services to consumers of natural gas, natural gas liquids (“NGLs”), crude oil, refined products and petrochemicals. The Client currently has an asset base that exceeds $50 billion, due to expansions from organic growth opportunities and acquisitions. Its operations include multiple NGLs, crude oil and natural gas storage facilities, refineries, processing plants, comprehensive terminal and transportation systems, natural gas marketing and an extensive list of petrochemical and refined products and services. The Client’s major projects include significant investments in software and technology to streamline operations, reduce costs and provide for future growth.
ABOUT THE CIM PILOT PROJECT
Pursuant to the terms of the arrangement, OneBridge will normalize the Client’s inline inspection (“ILI”) data for segments of its pipeline, ingest and classify the data, and align all features to calculate anomaly growth rates. Using OneBridge proprietary Pattern Detection and Interacting Threats data science algorithms, the solution is designed to detect threats using Predictive Analytics, while providing advanced business intelligence, graphical presentations, and reporting of the data that assists clients 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.
OneBridge utilizes proprietary data science and machine learning algorithms, and predictive analytics applied to structured and unstructured big data on a highly scalable level to provide pipeline companies with the functionality they require to safely operate, manage and maintain their pipeline infrastructure as smart assets. The OneBridge CIMTM solution is deployed as a SaaS application leveraging Data Science, Azure Machine Learning, Microsoft Power BI Embedded and other components of the Microsoft Azure: Cloud Platform and Services.
ABOUT ONESOFT SOLUTIONS 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”) Cloud, in conjunction with Office 365, CRM Online, Microsoft BI and Microsoft Azure Machine Learning. 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 Azure Cloud Platform and Services, with accessibility through any internet capable device.
Visit www.onesoft.ca for more information.
OneBridge develops and markets revolutionary new SaaS solutions that use data science and Machine Learning and predictive analytics applied to big data for the Oil & Gas pipeline industry, which assists 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.
