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Worldsensing Hands over Smart City IoT Solution Builder OneMind Technologies to Affluence Corporation

·4-min read

Worldsensing announced today the closing of the acquisition of OneMind Technologies SL by Affluence Corporation (AFFU.PK). The new entity is a wholly owned subsidiary of Affluence Corporation. Worldsensing SL was advised by DWF RCD in Spain. Affluence Corporation was advised by Kirkland & Ellis in the US and Araoz & Rueda in Spain.

OneMind Technologies SL, based in Barcelona, Spain, helps organizations to transform operational decisions and reveal insights through real-time and multi-domain intelligence. Through its intelligent IoT solution builder OneMind, the company, creates applications for smart construction and smart city operations. The OneMind intelligent IoT solution builder is used by organizations in the USA, Latin America, 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. OneMind is very active in the Middle East and Africa region with a number of prospects planned for closure in the coming months.

"As part of Affluence Corporation, OneMind Technologies is in a unique position to generate synergies across the Group, drive sustainable growth and become a global leader. OneMind Technologies’ ambition is to enable any organization to run smarter operations through our smart IoT solution builder" said Stephane Eyme, CEO of OneMind Technologies SL.

"OneMind has worked as an independent Worldsensing business unit and internal start-up for some time now. I have no doubt that the team will continue to thrive within the Affluence ecosystem. The OneMind sale leaves Worldsensing perfectly positioned to expand our leadership in critical infrastructure monitoring to tackle the fundamental mission of keeping people safe by monitoring assets in mining, construction, rail, and beyond," said Worldsensing’s CEO, Ignasi Vilajosana.

Rohan Chanmugam, CEO of Affluence Global, said: "We are delighted to welcome the OneMind Technologies team to the Affluence Corporation family. We are uniquely positioned to capitalize on the tremendous growth opportunities offered by OneMind, which combined with our edge computing solutions will have a significant impact in how business is done across the world in the near future."

Ends

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. https://affucorp.com

About OneMind Technologies SL

OneMind Technologies SL is a wholly owned subsidiary of Affluence Corporation. The OneMind intelligent IoT solution builder is used to create applications for smart construction and smart city operations. Functioning as a system of systems, OneMind connects data sources to one single point of insight to provide real-time information on operational processes. It is a key component in the enterprise solutions currently being offered by several Fortune 50 companies that resell, distribute, and integrate smart city enterprise solutions. https://www.onemindtechnologies.com

About Worldsensing SL

Worldsensing is a global IoT pioneer. Founded in 2008, the industrial monitoring expert works with over 270 engineering partners in more than 60 countries to provide safety through critical infrastructure monitoring in mining, construction, rail, and structural health.

Worldsensing has more than 80 employees and offices in Barcelona, London, Los Angeles and Singapore and investors include Cisco Investments, Mitsui & Co, McRock Capital and ETF Partners, among others. https://www.worldsensing.com/

Forward-Looking Statements

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201124005786/en/

Contacts

Affluence Corporation Investor Relations contact: info@affucorp.com or +1 720-295-6409
Affluence Corporation Media Relations contact: Maria Chanmugam, press@affucorp.com
Worldsensing Media Relations contact: Jennifer Harth, press@worldsensing.com or +34 93 418 05 85