Affluence Corporation Signs Definitive Agreement to Acquire Mingothings SL
Affluence (OTC Pink:AFFU) has signed a definitive agreement to acquire Mingothings SL (MTI), a Barcelona-based specialist in IoT solutions and data analytics for smart cities. MTI will partner with OneMind Technologies (OMT), Affluence's subsidiary, to enhance their OneMindNG platform with predictive and prescriptive analytics.
The acquisition aims to combine MTI's IoT platform capabilities with OMT's AI-driven Hypervisor dashboard, enabling faster and more cost-effective implementation of IoT solutions. The smart city and connected industries IoT market is projected to grow from $768 billion in 2024 to over $4.6 trillion by 2032, with a CAGR of 25.2%.
As part of the agreement, MTI shareholders will exchange their equity for Affluence preferred stock, granting them voting control. William E. Gonyer has been appointed as CFO, emphasizing that cost synergies and accelerated growth will ensure positive cashflow. The acquisition's final step involves notarization under Spanish law, expected this month.
Affluence (OTC Pink:AFFU) ha firmato un accordo definitivo per acquisire Mingothings SL (MTI), un'azienda con sede a Barcellona specializzata in soluzioni IoT e analisi dei dati per le città intelligenti. MTI collaborerà con OneMind Technologies (OMT), la sussidiaria di Affluence, per migliorare la loro piattaforma OneMindNG con analisi predittive e prescrittive.
L'acquisizione mira a combinare le capacità della piattaforma IoT di MTI con il cruscotto Hypervisor basato su AI di OMT, consentendo un'implementazione più rapida ed economica delle soluzioni IoT. Si prevede che il mercato IoT per le città intelligenti e le industrie connesse crescerà da $768 miliardi nel 2024 a oltre $4,6 trilioni entro il 2032, con un CAGR del 25,2%.
Come parte dell'accordo, gli azionisti di MTI scambieranno la loro partecipazione per azioni privilegiate di Affluence, garantendo loro il controllo di voto. William E. Gonyer è stato nominato CFO, sottolineando che le sinergie sui costi e la crescita accelerata garantiranno un flusso di cassa positivo. L'ultimo passo dell'acquisizione prevede la notarizzazione secondo la legge spagnola, prevista per questo mese.
Affluence (OTC Pink:AFFU) ha firmado un acuerdo definitivo para adquirir Mingothings SL (MTI), una empresa con sede en Barcelona especializada en soluciones IoT y análisis de datos para ciudades inteligentes. MTI se asociará con OneMind Technologies (OMT), la filial de Affluence, para mejorar su plataforma OneMindNG con análisis predictivos y prescriptivos.
La adquisición tiene como objetivo combinar las capacidades de la plataforma IoT de MTI con el panel de control Hypervisor impulsado por IA de OMT, lo que permitirá una implementación más rápida y rentable de las soluciones IoT. Se proyecta que el mercado IoT para ciudades inteligentes e industrias conectadas crecerá de $768 mil millones en 2024 a más de $4.6 billones para 2032, con una tasa de crecimiento anual compuesta (CAGR) del 25.2%.
Como parte del acuerdo, los accionistas de MTI intercambiarán su participación por acciones preferentes de Affluence, otorgándoles control de voto. William E. Gonyer ha sido nombrado CFO, enfatizando que las sinergias de costos y el crecimiento acelerado asegurarán un flujo de efectivo positivo. El último paso de la adquisición implica la notarización bajo la ley española, que se espera para este mes.
Affluence (OTC Pink:AFFU)는 바르셀로나에 본사를 둔 IoT 솔루션 및 스마트 시티를 위한 데이터 분석 전문 기업인 Mingothings SL (MTI)를 인수하기 위한 최종 계약을 체결했습니다. MTI는 Affluence의 자회사인 OneMind Technologies (OMT)와 협력하여 예측 및 처방 분석 기능을 갖춘 OneMindNG 플랫폼을 향상시킬 것입니다.
이번 인수의 목표는 MTI의 IoT 플랫폼 기능과 OMT의 AI 기반 하이퍼바이저 대시보드를 결합하여 IoT 솔루션의 더 빠르고 비용 효율적인 구현을 가능하게 하는 것입니다. 스마트 시티 및 연결된 산업의 IoT 시장은 2024년 7,680억 달러에서 2032년에는 4.6조 달러 이상으로 성장할 것으로 예상되며, 연평균 성장률(CAGR)은 25.2%입니다.
계약의 일환으로 MTI 주주들은 Affluence의 우선주로 그들의 지분을 교환하여 투표 권한을 부여받습니다. William E. Gonyer가 CFO로 임명되었으며, 비용 시너지와 가속화된 성장이 긍정적인 현금 흐름을 보장할 것이라고 강조했습니다. 인수의 마지막 단계는 이달 중 스페인 법률에 따라 공증을 받는 것입니다.
Affluence (OTC Pink:AFFU) a signé un accord définitif pour acquérir Mingothings SL (MTI), un spécialiste basé à Barcelone dans les solutions IoT et l'analyse de données pour les villes intelligentes. MTI s'associera à OneMind Technologies (OMT), la filiale d'Affluence, pour améliorer leur plateforme OneMindNG avec des analyses prédictives et prescriptives.
Cette acquisition vise à combiner les capacités de la plateforme IoT de MTI avec le tableau de bord Hypervisor alimenté par l'IA d'OMT, permettant une mise en œuvre des solutions IoT plus rapide et plus rentable. Le marché IoT pour les villes intelligentes et les industries connectées devrait passer de 768 milliards de dollars en 2024 à plus de 4,6 billions de dollars d'ici 2032, avec un taux de croissance annuel composé (CAGR) de 25,2%.
Dans le cadre de l'accord, les actionnaires de MTI échangeront leurs actions contre des actions privilégiées d'Affluence, leur accordant ainsi un contrôle de vote. William E. Gonyer a été nommé CFO, soulignant que les synergies de coûts et la croissance accélérée garantiront un flux de trésorerie positif. La dernière étape de l'acquisition implique une notarisation selon la loi espagnole, prévue pour ce mois-ci.
Affluence (OTC Pink:AFFU) hat einen endgültigen Vertrag zur Übernahme von Mingothings SL (MTI), einem in Barcelona ansässigen Spezialisten für IoT-Lösungen und Datenanalysen für intelligente Städte, unterzeichnet. MTI wird mit OneMind Technologies (OMT), der Tochtergesellschaft von Affluence, zusammenarbeiten, um ihre OneMindNG-Plattform mit prädiktiven und preskriptiven Analysen zu verbessern.
Das Ziel der Übernahme ist es, die IoT-Plattformfähigkeiten von MTI mit dem KI-gesteuerten Hypervisor-Dashboard von OMT zu kombinieren, um eine schnellere und kostengünstigere Implementierung von IoT-Lösungen zu ermöglichen. Der Markt für IoT in intelligenten Städten und vernetzten Industrien wird voraussichtlich von 768 Milliarden US-Dollar im Jahr 2024 auf über 4,6 Billionen US-Dollar bis 2032 wachsen, mit einer jährlichen Wachstumsrate (CAGR) von 25,2%.
Im Rahmen des Vertrags werden die Aktionäre von MTI ihre Anteile gegen Vorzugsaktien von Affluence eintauschen, was ihnen das Stimmrecht einräumt. William E. Gonyer wurde zum CFO ernannt und betonte, dass Kostensynergien und beschleunigtes Wachstum einen positiven Cashflow gewährleisten werden. Der letzte Schritt der Übernahme umfasst die notarielle Beurkundung nach spanischem Recht, die für diesen Monat erwartet wird.
- Acquisition provides access to MTI's large installed base and distribution network
- Expected cost synergies and positive cashflow post-acquisition
- Entry into fast-growing smart city market ($4.6T by 2032)
- Enhanced product offering through integration of MTI's IoT platform with OMT's AI capabilities
- Dilution of current shareholders' voting control through preferred stock issuance to MTI shareholders
- Acquisition completion still pending final notarization
- Integration risks between different technology platforms and international operations
Strategic acquisition to strengthen OneMind Technologies and expand market reach.
OAK BROOK, IL / ACCESS Newswire / April 2, 2025 / Affluence Corporation, (OTC Pink:AFFU), a Smart City Software and Internet of Things (IoT) technology company, announced today the signing of a definitive agreement to acquire Mingothings SL ("MTI"), a specialist in integrated IoT solutions and data analytics for smart cities and connected industries.
Once the acquisition is completed MTI, based in Barcelona, will work in partnership with OneMind Technologies ("OMT"), also a wholly owned subsidiary of Affluence. OMT utilizes the proprietary OneMindNG 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 OneMindNG, 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
Affluence is also pleased to announce the appointment of William E. Gonyer to the position of Chief Financial Officer, effective immediately. "This is a crucial step in our planned acquisition strategy to scale and profitably grow Affluence. Cost synergies and accelerated growth will ensure that the group is cashflow positive. MTI's large installed base complements OMT enabling greater access to a growing network of world-class partners, resellers and distributors. This is an exciting phase for Affluence. The acquisition brings significant growth potential through expanded market reach," said Williiam Gonyer, CFO of Affluence Corporation.
"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. Our ambition is to work with OMT to push the boundaries of IoT technologies and enable any organization to run smarter operations." said Francesc Domingo, CEO of MTI.
Pursuant to the acquisition agreement the outstanding equity of MTI will be exchanged by the shareholders of MTI for shares of preferred stock of Affluence Corporation, providing the former MTI shareholders with voting control of Affluence Corporation. The final step in the acquisition process is the customary notarization of the executed definitive agreement pursuant to the laws of Spain, expected to take place this month.
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About Affluence Corporation
Affluence Corporation (AFFU.PK) is a diversified technology company focused on smart city and industry software and innovative solutions that capitalize on IoT, AI, 5G and edge technologies. We are investing in mid-market businesses to create a cohesive unit which brings together technology for the next generation of internet. For more information go to https://affucorp.com.
About OneMind Technologies SL
OneMind Technologies ("OMT"), based in Barcelona, Spain, is a recognized provider of IoT, Smart City, and Security Command and Control solutions. With its innovative OneMindNG platform, OMT enables cities and industries to optimize operations, enhance public safety, and support sustainable development. https://onemindng.com/
About Mingothings SL
Mingothings SL ("MTI") is a trusted specialist in integrated IoT solutions and data analytics for smart cities and connected industries. With expertise in real-time data processing, sensor integration, and adaptable IoT platforms, MTI provides innovative solutions designed to maximize efficiency, sustainability, and operational performance in diverse IoT applications. https://www.mingothings.com/
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This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements that are not historical in nature, including the words "anticipate," "expect," "suggests," "plan," "believe," "intend," "estimates," "targets," "projects," "should," "could," "would," "may," "will," "forecast" and other similar expressions are intended to identify forward-looking statements. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. There are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including: general economic business conditions, competitive and technological factors, markets, services, products and prices, the failure to consummate the proposed acquisition, the failure to retain management and/or key employees of the target company, availability and the cost of capital, success of growth initiatives, limited operating history and other risks discussed in our filings with the OTCMarkets; and the Securities and Exchange Commissions. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Affluence Corporation assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
Media and investor contact - press@affucorp.com
SOURCE: Affluence Corp
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