Affluence Corporation Completes Acquisition of Mingothings SLU

Strategic acquisition to expand market reach and ensure profitable growth.

OAK BROOK, IL / ACCESS Newswire / May 19, 2025 / Affluence Corporation, (OTC Pink:AFFU), a Smart City Software and Internet of Things (IoT) technology company, announced today the completion of the acquisition of Barcelona based Mingothings SLU ("MTI"), a specialist in integrated IoT solutions and data analytics for smart cities and connected industries. The executed definitive agreement was notarized today pursuant to the laws of Spain.

This is a crucial step in our planned acquisition strategy to scale and profitably grow the group. MTI is already working in partnership with OneMind Technologies ("OMT"), also a wholly owned subsidiary of Affluence. OMT utilizes the proprietary OneMind^NG 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 OneMind^NG, 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 $768 billion in 2024 to over $4.6 trillion by 2032, a CAGR of 25.2% during the forecast period. As a result of this acquisition we believe that Affluence is well placed to be a part of this market growth. Our combined and enhanced product offering, including engineering and integration services, will ensure a streamlined customer experience and allow us to pursue larger opportunities within our target markets.

"This is an exciting phase for Affluence. The acquisition brings significant growth potential through expanded market reach. Cost synergies and accelerated growth will ensure that the group is cashflow positive," said Williiam Gonyer, CFO of Affluence Corporation.

"We are delighted to be part of the Affluence group. 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. thethings.IO platform that can be easily and seamlessly accessed by any business. Our ambition is to work with OMT to push the boundaries of IoT technologies and enable any organization to run smarter operations. In addition, our Digital Twin solution will enhance our offerings to Businesses." said Francesc Domingo, CEO of MTI.