Affluence Corporation Acquires Mingothings to Strengthen IoT and Smart City Capabilities

Image source: Onemind technologies

Published on January 7, 2025

OneMind Technologies, a Smart City and IoT technology company and subsidiary of Affluence Corporation, has announced an agreement to acquire Mingothings, a provider of integrated IoT solutions and analytics for smart cities. The acquisition, expected to close in Q1 2025, aims to enhance OneMind Technologies, by integrating Mingothings expertise in IoT platform implementation and connectivity.

The deal will combine OneMind Technologies’s OneMindNG platform—an AI-powered system that unifies data from disparate sources into a single dashboard—with Mingothings’s rapid IoT device integration capabilities. This alignment is expected to improve operational efficiency, drive smarter decision-making, and expand market reach. Affluence anticipates combined revenues exceeding $4 million in 2025, with EBITDA margins above 10% and cash flow positivity.

This strategic move is designed to streamline the customer experience, scale operations, and access a broader network of partners, resellers, and distributors, further solidifying Affluence’s role in the evolving IoT and smart city landscape

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