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 transaction, structured with cash, preferred equity, and performance-based earnouts, would give Affluence 100% ownership of Triar, subject to due diligence, definitive agreements, and financing.
Management estimates 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 estimates are based on internal projections and information from target companies, but remain subject to significant uncertainties.
The LOI was previously executed but not publicly disclosed. Following recent approval of a reverse stock split and ongoing negotiations with convertible debt holders, management believes a more viable path exists to pursue this and other acquisitions. However, securing adequate financing remains critical.
Affluence is also evaluating other opportunities, including UCL Communications. There is no assurance that any transaction 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 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 completion of the acquisition is subject to numerous conditions, including negotiation of definitive agreements, due diligence, board approval, and securing financing on acceptable terms. There can be no assurance the transaction will be completed as contemplated or at all.
The company expects to provide further updates as developments occur.
For more information about Affluence Corporation, visit https://affucorp.com.
