BOOOM! Weyland Tech, Inc. Announces Acquisition Offer From Strategic Partners DDBill Payment Co., Ltd. and Dinpay Technology Group Ltd.
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March 14, 2018 12:41 ET | Source: Weyland Tech, Inc.
NEW YORK, NY, March 14, 2018 (GLOBE NEWSWIRE) -- Weyland Tech, Inc. (OTCQX: WEYL; the “Company” or “Weyland”), a provider of mobile business applications, today confirmed that it has received a non-binding acquisition proposal from its recently announced strategic partner, China’s DDBill Payment Co., Ltd (“DDBill”) which operates China’s fourth largest payments gateway Dinpay (www.dinpay.com, English: us.dinpay.com) and Dinpay Technology Group Ltd. (“DTG”).
The two companies, having spent the past three months working with Weyland on joint collaboration on expanding DDBill and DTG’s product and service offering beyond China’s borders and evaluating the Indonesia e-Wallet market, have concluded that an acquisition of the Company would benefit all groups, including Weyland Shareholders.
DDBill and DTG’s Core business coverage is third-party payment technology / solution provider for :
1. Cross border WeChat business / solution provider
2. Cross border Alipay business / solution provider
3. VISA / master card products & solutions
4. Online payment gateway solutions
The Board of Directors will carefully evaluate this proposal and other potential alternatives, including continued operations as an independent organization, in alignment with its longstanding commitment to maximize shareholder value. The Company cautions its shareholders and others considering trading in its securities that there can be no assurance that any definitive offer will be made by DDBill and DTG, if made, at what price or other terms, that any agreement will be executed or that a transaction in response to these proposals or that any other transaction will be approved or consummated. The Company does not undertake any obligation to provide any updates with respect to these proposals or any other proposal, except as required under applicable law.
About Weyland Tech Inc.
Weyland Tech's CreateApp platform is focused on the Asia markets. Our CreateApp, platform offered in 14 languages, enables small and medium sized businesses ("SMB's") to create native mobile applications ("APP") for Apple's iOS and Google Android without technical knowledge or background. Empowering SMB's to increase sales, reach more customers and promote their products and services via simple easy to build mobile APPs in an affordable and cost-effective manner.
