Affluence Corporation announced its strategic intent to acquire Durham Black, LLC. The acquisition is a significant step forward in Affluence growth strategy, aimed at establishing itself as a global leader in solutions that power both smart industries and next generation Internet. Following the close of the transaction Affluence will appoint Durham Black management to leadership.

Patrick Shutt will be named Chairman of the Board and Mary Stanhope will become COO. Patrick Shutt is a leader in the telecom, technology, and adjacent software sectors and brings a depth of experience and an extensive 25-year track record of success. He has been a Founder, CEO and has provided unique value for every organization he has been with.

Patrick has led capital transactions in excess of $800 million, of note, Goldman Sachs underwrote the IPO of Universal Access where Mr. Shutt as CEO raised $240 million in equity and had a market cap over $5.5 billion at its peak. Mr. Shutt has a history of growing technology companies as he grew Universal Access to $144 million in revenue in four years and as CEO of Unitas Global grew that company from $2 million in revenue to $80 million in revenue. Mary Stanhope has over 25 years of leadership experience for global technology companies.

A transformational leader, Mary has held strategy and operating positions at both startup and turnaround companies including Unitas Global, Global Capacity, Sidera Networks, and Priority Call Management, with extensive global M&A work with Atos Origin and SchlumbergerSema technology business lines.