Affluence Corporation (OTCID: AFFU), a diversified technology company specializing in Smart City, Industrial IoT, and security software solutions, announced today that it has executed a Letter of Intent (LOI) to acquire Triar Commerce LLC (“Triar”). The proposed transaction, structured with cash, preferred equity, and performance-based earnouts, is subject to due diligence, negotiation of definitive agreements, and securing financing.
Management has estimated that, if the Triar acquisition and certain other strategic initiatives are completed, the Company could achieve approximately $220 million in pro forma annualized revenue and approximately $5 million in pro forma EBITDA. These figures are based on internal estimates and remain subject to significant uncertainties. The Company had previously executed the LOI with Triar but elected not to disclose it until now, citing recent approval of a reverse stock split and ongoing negotiations with convertible debt holders as factors that may improve the viability of the acquisition.
“We are pleased to have signed this LOI with Triar,” said Oscar Brito, President of Affluence Corporation. “We believe there are meaningful synergies between Triar’s telecom capabilities and our existing IoT and smart infrastructure platforms. This transaction, if completed, represents a potential step toward scaling our operations and strengthening our market position.” Brito added that the Company remains focused on debt restructuring and building a sustainable financial foundation, with a long-term goal of achieving greater scale and potentially listing on a national exchange.
The Company is also continuing to evaluate additional opportunities, including UCL Communications. However, there can be no assurance that any of these transactions will be completed. The completion of the proposed acquisition remains subject to numerous conditions, including negotiation of definitive agreements, satisfactory due diligence, board approval, and the Company’s ability to secure adequate financing on acceptable terms.
Affluence Corporation, through its operating subsidiaries including Mingothings, delivers AI-enabled IoT platforms, data visualization, and intelligent infrastructure technologies. For more information, visit https://affucorp.com. The Company expects to provide further updates as developments occur.
