Affluence Corporation signs definitive agreement to acquire OneMind Smart City business unit from Worldsensing

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OAK BROOK, IL / ACCESSWIRE / September 16, 2020 / Affluence Corporation (OTC PINK:AFFU), a diversified technology company focusing on innovative Edge Cloud, Internet of Things and 5G enhancing technologies, announced today that the company and Worldsensing have executed the definitive documents for the acquisition of the OneMind Smart City Software business unit. Included in the definitive documents was the establishment of OneMind technologies S.L. which will be a wholly owned subsidiary of Affluence Corporation.

"The OneMind acquisition is at the core of our IoT and 5G go to market strategy," said James Honan, Jr. Affluence's CEO. "OneMind Smart City technology is used to monitor and manage security, mobility and traffic, creating unprecedented situational awareness in cities worldwide. The OneMind intelligent IoT Solution builder allows cities in the USA, Colombia, Mexico, Europe, and South-East Asia to optimize operational processes and make real-time decisions based on data driven insights and be more efficient, responsive, and sustainable. The OneMind Smart City Solution is already a key component in the enterprise solutions currently being offered by several Fortune 50 companies that resell, distribute, and integrate Smart City enterprise solutions. This is the first of several acquisitions that will round out a fully integrated Edge Cloud and IoT solution that can be deployed today and will also capitalize on 5G as the technology is rolled out," said Honan.

"As part of Affluence, the OneMind Smart City solution has the opportunity to grow and evolve", said Ignasi Vilajosana, CEO and Co-Founder of Worldsensing. "Affluence's strategic long term vision as it relates to 5G, IoT and Edge Computing provides the ambition and innovative technological approach that will ensure that the OneMind Smart City solution will continue to grow its position as a market leader," said Vilajosana.

Letting go of its OneMind Smart City offering enables Worldsensing to continue focusing on its core business, Loadsensing, the global leader for IoT remote monitoring of critical infrastructures.

About Affluence Corporation.

Affluence Corporation (AFFU.PK) is a diversified technology company focused on edge computing and innovative cloud solutions that capitalize on IoT, AI and 5G technologies. We are investing in mid-market businesses to create a cohesive unit which brings together technology for the next generation of internet

About Worldsensing

Worldsensing is a global IoT pioneer. Founded in 2008, the technology provider delivers operational intelligence to traditional industries and cities. With more than 100 employees and offices in Barcelona, London, Los Angeles, and Singapore, Worldsensing is globally active and has customers in more than 60 countries. Worldsensing's investors include Cisco Investments, Mitsui & Co, McRock Capital and ETF Partners, among others.

About OneMind

OneMind is an intelligent IoT solution builder used to create applications for Smart Construction and Smart City operations. Functioning as a system of systems, OneMind allows connecting all existing data sources to one single point of insight to provide real-time information on operational processes.

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.

For further information contact Affluence Corporation Investor Relations:


SOURCE: Affluence Corporation

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