Strategic acquisition expands Affluence into $500b Global Connectivity Market
OAK BROOK, IL / ACCESSWIRE / January 18, 2024 / Affluence Corporation (OTC PINK:AFFU), a leader in Smart City Software and Internet of Things (IoT) technology, today announced that it has reached an agreement to acquire Contrivian Inc., a global next-generation connectivity provider. Contrivian leverages its sophisticated North Star™ customer experience application and innovative Lighthouse™ technology to provide intelligent, high performance internet solutions for enterprise customers globally. The two companies have executed a Letter of Intent for Contrivian to become a wholly owned subsidiary of Affluence, expanding its product portfolio into the $500b global connectivity market.
"This is the first step in a series of acquisitions we plan to make this year, which will significantly grow Affluence. We are excited for the increased growth potential brought to us with entry into this new exciting market," said James E Honan, Jr., CEO of Affluence Corporation. "Contrivian offers network services to global enterprises that rely on connectivity - that's everyone. We see that Contrivian has an incredible opportunity to be the technology leader in what is a highly fragmented global market and bring meaningful value to Affluence."
Contrivian brings innovative technology and much needed software automation and intelligence to the global connectivity space. Today's internet is built on decades-old protocols and "best efforts" routing; it was not built for the performance that cloud computing, AI, and Software as a Service (SaaS) now demands of it. The growing enterprise migration from legacy private networking to internet access further exacerbates the issue. Contrivian has created a new solution with its proprietary Lighthouse and NorthStar technology, putting innovative routing intelligence and customer experience at the customer edge anywhere around the world.
"We are excited for the opportunities and scale we will gain being part of Affluence," said Grant Kirkwood, CEO of Contrivian. "We have a shared vision to maximize the potential of Contrivian and grow through further acquisitions, establishing us as a leader in the global connectivity market. I look forward to the many benefits this acquisition will yield for our clients and global partners."
"Affluence is looking forward to working with Grant and adding his entrepreneurial experience and proven technical knowledge to the management team," continued Honan. "Going forward, we will continue to deliver on our two-pronged growth strategy to unlock new markets for existing wholly owned subsidiary, OneMind Technologies, while adding increased value with multiple new acquisitions."
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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 Contrivian, Inc. Contrivian is redefining how global businesses procure and use connectivity services by providing the next-generation of connectivity services today. Its customer experience application, Contrivian North Star™, provides unmatched intelligence and automation for the full network service lifecycle starting with design, ordering, through delivery, performance monitoring, and management. Contrivian offers multi access internet and private network services optimized for business-critical applications with a single contract, a single point of contact, and a single support team in 160+ countries. For more information, visit contrivian.com and follow Contrivian on LinkedIn.
About OneMind Technologies SL OneMind Technologies SL based in Barcelona Spain is a wholly owned subsidiary of Affluence Corporation. The OneMindNG intelligent IoT solution builder is used to create applications for smart city and smart industries operations. Functioning as systems of systems, OneMindNG platform connects data sources to one single point of insight to provide real-time information on operational processes. It is a key component in the Smart City and enterprise solutions currently being offered by several Fortune 50 companies that resell, distribute, and integrate smart city enterprise solutions. For more information go to https://www.onemindng.com.
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For further information contact Affluence Corporation Investor Relations at 720-295-6409.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. 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, availability and the cost of capital, success of growth initiatives, limited operating history and other factors discussed in our filings with the Securities and Exchange Commissions. Additionally, this release may not be considered as legal, accounting, or investment advice, and is not, and may not be considered, a solicitation for the purchase of any securities issued by Affluence Corporation.
SOURCE: Affluence Corporation