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 ("Triar"). The proposed acquisition, structured with cash, preferred equity, and performance-based earnouts, is subject to due diligence, definitive agreements, and financing.
Management has 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 $5 million in pro forma EBITDA. These figures are based on internal estimates and remain subject to significant uncertainties.
Affluence had previously signed the LOI with Triar but opted not to disclose it publicly. With recent approval of the company's reverse stock split and ongoing negotiations with convertible debt holders, management believes there may now be a more viable path to pursue this and other potential acquisitions. However, securing adequate financing remains critical.
The company is also evaluating additional opportunities, including UCL Communications. There can be 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 of definitive agreements, satisfactory due diligence, board approval, and the company's ability to secure financing on acceptable terms. There can be no assurance that the transaction will be completed as contemplated or at all.
For more information about Affluence Corporation, visit https://affucorp.com.
