Merger with Durham Black Inc
On May 20, 2024 Affluence Corporation (OTC PINK: AFFU), a publicly traded smart industry software and IoT technology company, merged with Durham Black Inc, a privately held technology services company.
The merged company will operate as Durham Black Inc. and continue to trade over the counter on the Pink Market with the ticker symbol AFFU.
This transformative merger marks a pivotal moment for Affluence Corporation, now doing business as Durham Black Inc., and will unlock new markets by expanding the company’s addressable market into the $1.7 trillion global communications market.
The merged public holding company intends to increase shareholder value through a series of acquisitions establishing Durham Black Inc. as a global leader in asset-light, innovative, and AI-enabled software and services focused on the global communications market.
Our Story
Affluence Corporation (OTC PINK:AFFU) was incorporated in 2008 and initially operated as a social networking platform.
In 2019 the company refocused the business to a holding company model primarily focused on the acquisition and roll-up of synergistic companies providing Internet of Things infrastructure and technologies, 5G solutions, edge computing and innovative cloud business and operation system solutions.
Affluence’s investment plan is focused on mid-market businesses to create a cohesive unit which brings together technology for the next generation of communication.
Major technology changes are disrupting the traditional networking sector. Current centralised infrastructure is inadequate to provide the resilience and bandwidth needed for the next generation of internet, which needs to be designed for machines. Affluence is working to provide the infrastructure and solutions to power industrial automation or smart cities, healthcare, AI, robotics and more. Transformation in cloud/edge computing will impact robotics, AI, healthcare, manufacturing, data centres, mobile devices, smart cities, and ‘autonomous things’, creating a wave of innovation that will dramatically improve our lives. These new technologies will bring dramatic performance improvements such as faster speeds, improved data capacity and lower latency. Affluence aims to be at the centre of this transformation.
Our Ambition
Through acquisition and partnership, our goal is to build a world leading business which brings together edge cloud enhancing technology for the next generation of communication.
Our objectives are to:
- be a global leader in edge computing solutions that will power next generation internet
- make it possible for any town or city to be a ‘smart city’ through our intelligent IoT smart city solution builder
- drive sustainable growth
- increase company value with a solid revenue base and continually growing profits.