Affluence Corporation (OTCID: AFFU), a diversified technology company focused on smart city, industrial IoT, and security software solutions, announced today that it has executed a Letter of Intent (LOI) to acquire Triar Commerce LLC. The proposed transaction, structured with cash, preferred equity, and performance-based earnouts, would give Affluence 100% ownership of Triar, pending due diligence, negotiation of definitive agreements, and securing necessary financing.
Management previously estimated that if the Triar acquisition and other strategic initiatives are completed, the company could achieve approximately $220 million in pro forma annualized revenue and about $5 million in pro forma EBITDA. These figures are based on internal estimates and information from target companies, subject to significant uncertainties.
The company had previously executed the LOI but chose not to disclose it until now. With the recent approval of a reverse stock split and ongoing negotiations with convertible debt holders, management believes there may be a more viable path to pursue this and other potential acquisitions. However, securing adequate financing remains a critical condition to any closing.
Affluence is also evaluating additional opportunities, including UCL Communications. There is no assurance that any of these transactions will be completed.
“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, “While we are optimistic about these opportunities, we remain focused on executing our debt restructuring initiatives and building a sustainable financial foundation. Achieving greater scale remains a key long-term objective, including potential consideration for a national exchange listing.”
The completion of the proposed acquisition is subject to numerous conditions, including negotiation and execution of definitive agreements, satisfactory completion of due diligence, board approval, and the company's ability to secure adequate financing on acceptable terms. There can be no assurance that the transaction will be completed as currently contemplated or at all.
For more information about Affluence Corporation, visit https://affucorp.com.
