Affluence Corporation, a leading company in Smart City Software and Internet of Things technology, said on Tuesday that it intended to acquire Durham Black LLC – a strategic advisory firm with a focus on several fundamental areas such as capital structure, growth execution and operational excellence.
After the acquisition closes, Affluence will appoint Durham Black management to leadership. Patrick Shutt will become Chief Executive Officer and Chairman of the Board of Directors, while Mary Stanhope will be appointed as Chief Operating Officer.
“This is an exciting time for Affluence, the Durham Black team is already driving value and we have a shared vision to maximize the potential of Affluence and grow from both organic and acquisition initiatives,” James Honan, Jr., Chief Executive Officer of Affluence Corporation, said in a press release.
“The addition of Patrick Shutt and his team will further drive the growth of Affluence and position us to be able to assimilate future acquisitions,” the CEO added.
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