Author: mariaRC

Strategic acquisition to expand market reach and ensure profitable growth.

Oak Brook, IL. May 16, 2025 – Affluence Corporation, (OTC Pink: AFFU), a Smart City Software and Internet of Things (IoT) technology company, announced today the completion of the acquisition of Barcelona based Mingothings SLU (“MTI”), a specialist in integrated IoT solutions and data analytics for smart cities and connected industries.  The executed definitive agreement was notarized today pursuant to the laws of Spain.

This is a crucial step in our planned acquisition strategy to scale and profitably grow the group.  MTI is already working in partnership with OneMind Technologies (“OMT”), also a wholly owned subsidiary of Affluence. OMT utilizes the proprietary OneMind^NG platform to integrate key data from disparate systems into a single dashboard, or Hypervisor, and harnesses the power of Artificial Intelligence to revolutionize how businesses interact with data and make decisions. By integrating cutting-edge predictive and prescriptive analytics into OneMind^NG, we will empower organizations to not only anticipate future outcomes but also receive actionable guidance tailored to their needs. OMTs AI-driven approach ensures smarter decision-making, operational efficiency and enhanced user experiences.  MTI provides the software and services that enable rapid connection to its IOT platform, of all relevant devices and IoT sensors thereby enabling faster and more cost-effective implementation and deployment.

According to Fortune Business Insights, the Smart City and Connected Industries IoT market is projected to grow from $768 billion in 2024 to over $4.6 trillion by 2032, a CAGR of 25.2% during the forecast period. As a result of this acquisition we believe that Affluence is well placed to be a part of this market growth. Our combined and enhanced product offering, including engineering and integration services, will ensure a streamlined customer experience and allow us to pursue larger opportunities within our target markets.

“This is an exciting phase for Affluence. The acquisition brings significant growth potential through expanded market reach. Cost synergies and accelerated growth will ensure that the group is cashflow positive,” said Williiam Gonyer, CFO of Affluence Corporation.

“We are delighted to be part of the Affluence group. MTI, through thethings.IO and its IoT platform, will complement the portfolio solutions of Affluence to generate revenue synergies across the group, drive sustainable growth, and become a global leader in the IoT market. thethings.IO platform can be easily and seamlessly accessed by any business.  Our ambition is to work with OMT to push the boundaries of IoT technologies and enable any organization to run smarter operations. In addition, our Digital Twin solution will enhance our offerings to Businesses.” said Francesc Domingo, CEO of MTI.

OAK BROOK, IL / ACCESSWIRE / November 19, 2024 / Affluence Corporation (OTC PINK:AFFU) a leader in Smart City Software and Internet of Things (IoT) is providing an update on Affluence Corporation and the composition of its Board of Directors.

On October 14, 2024, James E. Honan, Jr., Chief Executive Officer and member of the board of directors of the Company, and Dale Haase, a member of the board of directors of the Company, resigned as members of the board of directors of the Company. Neither Mr. Honan nor Mr. Haase noted any disagreements with the Company or its Board. Mr. Honan will remain as Chief Executive Officer of the Company.

In addition, on October 14, 2024, Michael Balkin and William Gonyer were appointed as members of the Board of Directors of the Company. “We are delighted and very fortunate to have Mr. Balkin and Mr. Gonyers as independent Board members. Their knowledge and experience are tremendous assets in growing the company. ” said James E. Honan, Jr., Chief Executive Officer.

William Gonyer is an independent contractor performing accounting, investment evaluation, and due diligence services. He was certified as a public accountant (CPA). He has worked in the field of accounting for over thirty (30) years. He has held positions at Will Stephenson Advisory (seven years, 2017 to present), Gold Coast Associates (six years, 2010 to 2016), Broad Street Banking Associates (two years, 2008 to 2010), Natixis Capital Markets (ten years, 1998 to 2008), Swiss Bank Corporation (six years, 1991 to 1997), and Price Waterhouse Coopers (five years, 1986 to 1991).

Mr. Balkin has over 35 years of capital market experience working with both public and private companies and is currently CEO of MPB Enterprises. MPB Enterprises is a senior strategic advisor to multiple public and private companies as well as the Wasson Enterprise family office. He is currently the Chairman of the Board of Performance Health Systems, LLC and was a member of the board of managers of Innventure, “INV”, an Intellectual Property-based development company co-founded by Greg Wasson. He is also on the Board of Directors of Horizon Technology Finance Corporation “HRZN” and recently served as the Chief Executive Officer and a Director of a public company called Foresight Acquisition Corporation, where he led the merger with a $2.2 billion-dollar private health care company.

Prior to Foresight, Mr. Balkin was a partner and formerly the co-Manager of the William Blair Small Institutional portfolio and the William Blair Small Cap Growth Fund, which he and his partners started in 1999.

The current composition of the board of directors of the Company is Rohan Chanmugam, Michael Balkin and William Gonyer. No equity or ownership of the company was sold, issued or assigned as a result of the Board appointments.

AK BROOK, IL / ACCESSWIRE / November 19, 2024 / Affluence Corporation (OTC PINK:AFFU) is pleased to announce that following last week’s Smart City Expo World Congress in Barcelona its subsidiary OneMind Technologies SL, a leader in Smart City and IoT technology platforms, and Mingothings SLU, an expert in IoT integration and real-time data solutions, have signed a Memorandum of Understanding (MoU) to establish a strategic partnership. This collaboration will leverage each company’s strengths to further advance IoT, smart city infrastructure, and technology-driven solutions for clients across the public and private sectors.

The MoU sets forth a framework for cooperation in critical areas, including business development, pre-sales, and marketing. Together, Mingothings and OMT aim to enhance operational efficiency, security, and sustainability for cities and industries by combining the power of OMT’s proprietary OneMind platform with Mingothings’ expertise in integrated IoT services. This partnership will drive innovation across Smart Cities, Security Command and Control, and Industrial IoT applications, accelerating technology adoption and deployment.

“We are excited to work alongside Mingothings, an industry peer who’s proven IoT integration capabilities make them a highly valuable partner,” said Thierry Scozzesi, Chief Commercial Officer of OneMind Technologies. “Our collaboration brings together two established leaders in the IoT space, uniquely positioning us to address complex urban and industrial challenges with impactful, data-driven solutions.”

“Mingothings has consistently pushed the boundaries of IoT technology, and this partnership with OneMind underscores our commitment to delivering advanced, integrated solutions,” said Francesc Domingo, CEO of Mingothings. “Together, we will expand the frontiers of what is possible in IoT and smart city innovation, bringing new levels of efficiency, safety, and sustainability to our clients.”

Through this MoU, both companies will engage in joint initiatives, including collaborative market development, co-branded marketing efforts, and shared customer engagement resources. The partnership also emphasizes a comprehensive customer support framework to deliver customized solutions and ensure successful project execution.

Ends.

OAK BROOK, IL / ACCESSWIRE / October 7, 2024 / Affluence Corporation (OTC:AFFU) a leader in Smart City Software and Internet of Things (IoT) is providing an update on Affluence post Durham Black unwind.

“As previously stated, we are disappointed that the merger was not finalized. Durham Black had an unwind clause of 120 days and exercised that option.” said James E Honan, Jr., CEO of Affluence Corporation. The Agreement has been unwound as previously announced.

Based upon recent shareholder inquiries, Affluence wants to provide some additional clarification. The LOI to acquire Contrivian was executed by Durham Black under the assumption of a merger with Affluence. It is not a part of Affluence. We are diligently working on other opportunities and will provide updates to the market as we execute against our strategy to acquire and manage technology assets.