Affluence Corp Signs LOI to Acquire Triar Commerce

Affluence Corporation (OTCID: AFFU), a diversified technology company specializing in Smart City, Industrial IoT, and security software solutions, has announced the execution of a Letter of Intent (LOI) to acquire Triar Commerce LLC. The transaction, structured with cash, preferred equity, and performance-based earnouts, aims to acquire 100% of Triar's equity or assets. This acquisition is part of Affluence's broader strategy to scale operations and strengthen its market position, particularly by integrating Triar's telecom capabilities with its existing IoT and smart infrastructure platforms. Management estimates that, if successful, this acquisition along with other strategic initiatives could generate approximately $220 million in pro forma annualized revenue and $5 million in pro forma EBITDA, though these figures remain uncertain and subject to due diligence and financing.

The company had previously signed the LOI with Triar but delayed public disclosure until recent developments, including approval of a reverse stock split and negotiations with convertible debt holders, created a more viable path forward. However, securing adequate financing remains a critical condition, and there is no guarantee the transaction will be completed. Affluence is also evaluating other opportunities, such as UCL Communications, but none are assured. Oscar Brito, President of Affluence, expressed optimism about synergies between Triar and the company's existing platforms, emphasizing the focus on debt restructuring and building a sustainable financial foundation to support future growth, including a potential national exchange listing.

For more details, readers can visit the full news release on NEWMEDIAWIRE or the company's website at https://affucorp.com. The completion of the acquisition is subject to numerous conditions, including definitive agreements, due diligence, board approval, and financing. Affluence expects to provide updates as developments occur.