American Marconi Wireless News - Affluence Corporation Signs Letter of Intent to Acquire Universal Call Limited, Expanding its Telco and Enterprise IoT Footprint

The proposed transaction represents an exciting strategic step forward for Affluence, aligning with its vision to integrate advanced IoT, AI, and Smart Infrastructure solutions into enterprise and government communications networks.

Upon completion, management anticipates the combined organization to reach approximately $43 million in annual revenue and over $1 million in operating income by the end of fiscal year 2025, ending on March 31, which would positioni Affluence among the most profitable and rapidly growing small-cap companies in the IoT industry-an industry segment typically characterized by early-stage losses.

"This agreement represents not only a strategic milestone for Affluence but also a validation of our operating model," said Oscar Brito, President of Affluence Corporation. "UCL's enterprise client base and strong foothold in the telecom sector will enable us to cross-sell our IoT solutions, particularly in the telco and government verticals. Together, we will leverage their sales infrastructure to accelerate the adoption of our intelligent edge technologies in large-scale enterprise environments."

"We're very excited to join forces with Affluence Corporation," said EddieAdnan Jamil, Chief Executive Officer of Universal Call Limited. "This partnership will unlock new opportunities for our customers by integrating next-generation IoT and data solutions into the robust telecom framework we've built over the years. It's a natural evolution for both companies and one that will drive measurable value for clients across industries."

The acquisition is subject to the execution of definitive agreements, standard closing conditions, and customary regulatory and shareholder approvals.

This transaction marks an additional giant step in Affluence's path toward listing on a national exchange. The acquisition of Universal Call Limited-a service-based company with established sales channels and enterprise relationships-strengthens Affluence's position as a high-growth technology platform capable of delivering intelligent infrastructure solutions for the next generation of connected cities and enterprises.

About Affluence Corporation

Affluence Corporation (AFFU.OTCID) is a diversified technology company focused on smart city and industry software solutions. Through subsidiary Mingothings SLU Affluence provides AI-enabled IoT, 5G, and data visualization platforms to enterprise and municipal clients worldwide.

For more information go tohttps://affucorp.com.

About Mingothings SLU

Mingothings SLU ("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/

About Universal Call Limited

Universal Call Limited (UCL) is a UK-based telecommunications and enterprise connectivity provider offering tailored solutions for carriers, governments, and large organizations. Its services include advanced voice, data, and networking infrastructure designed to enable high-performance communications across global markets.

https://unicalltd.com/

Forward-Looking Statements

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," "suggest," "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 close the acquisition contemplated by the letter of intent, the failure to retain management and/or key employees, availability and the cost of capital, success of growth initiatives, limited operating history, failure to raise sufficient capital, failure to expand business operations, failure to identify and capitalize on global trends and economic opportunities, failure to uplist to an exchange, and other risks discussed in our filings with the OTC Markets.

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 - [email protected]

SOURCE: Affluence Corp

View the original press release on ACCESS Newswire

A.Mahlangu--AMWN