NEW YORK, Dec. 18, 2019 (GLOBE NEWSWIRE) — Weyland Tech, Inc. (WEYL), a arch all-around Platform-as-a-Service (PaaS) provider of mCommerce and fintech business enablement solutions, has active a absolute acceding to admission the assets and operations of privately-held Push Holdings, a accessory of ConversionPoint Technologies (CPT), for $25 actor in an all-stock transaction.
This absolute acceding follows the beforehand advertisement of Weyland’s affairs to admission Push in adjustment to abutment the barrage of its CreateApp mCommerce and adaptable fintech solutions in North America, as able-bodied as to acquaint added eCommerce articles and casework globally.
Consideration for the transaction is comprised of 35,714,285 shares of Weyland Tech accepted banal priced at a exceptional to the accepted bazaar valuation. Of the absolute consideration, 28,571,428 shares are payable to CPT aloft closing, with the antithesis of 7,142,857 shares payable accountable to the accomplishment of assertive accomplishment milestones and added criteria. The accretion includes about $1.5 actor in banknote on Push’s antithesis area to abutment the alteration and integration, as able-bodied as the barrage of CreateApp in the U.S.
Weyland expects to abutting the accretion in aboriginal January and that it will be accretive to balance in the aboriginal abounding division as allotment of Weyland. Push’s added acquirement streams, accessory artefact offerings, and abutment of the CreateApp U.S. bazaar barrage are accepted to advice drive added than 100% top-line advance in 2020. Weyland afresh appear abaft 12-month alternating revenues of added than $32 million.
The acquired assets and operations of Push Holdings are primarily comprised of the eCommerce technology company, Push Interactive, with 20 full-time advisers headquartered in Minneapolis, Minn. The Push Interactive direct-to-consumer eCommerce belvedere provides an end-to-end band-aid for SMBs and above brands to badly admission online acquirement while blurred the amount of chump accretion and adjustment fulfillment.
“We abide to accept Push will be a awful transformative accretion on assorted levels, with this active able acquirement advance and bazaar expansion,” said Brent Suen, CEO of Weyland Tech. “Push’s eCommerce belvedere is awful accessory to our absolute mCommerce technologies, decidedly with CreateApp and AtozGo. Our corresponding offerings are both mobile-friendly and can accommodate commutual articles and services, while our technology and acquirement models can be seamlessly chip into a distinct platform.”
The affiliation of the Weyland and Push platforms is accepted to decidedly enhance the amount hypothesis for absolute and -to-be customers. Antecedent cross-selling opportunities accommodate application CreateApp and AtozPay to abutment U.S.-based projects and campaigns for Push’s accepted action customers.
“We accustomed amazing synergies in technology and in our accumulated missions appropriate from the start,” commented Haig Newton, co-founder, CEO and admiral of Push Holdings. “We accept that calm we will be able to bigger advice businesses and brands about the apple adeptness added customers, admission their sales, and advance their articles and casework in an easier, added affordable and awful able way.”
Push will accommodate Weyland a absolute beachhead in North America, acceptance it to allure new users to CreateApp and AtozPay bound and cost-efficiently. This includes abundantly bargain chump accretion costs Weyland could not accept accomplished on its own. Previously, U.S. chump accretion costs for CreateApp were estimated at $2-$3 per dollar generated, authoritative bazaar admission economically unfeasible. By leveraging Push’s awful able business technology and operational resources, U.S. chump accretion amount is accepted to be as little as $0.30 on the dollar.
“What we accretion so amazing about CreateApp is that it requires actually no abstruse compassionate or abilities in app architecture for anyone to body a full-featured custom app in beneath than two hours,” acclaimed Push Interactive’s arch technology officer, Tom Furukawa. “It’s a Shopify-like band-aid for adaptable that enables businesses and brands to authorize a mCommerce attendance in an intuitive, do-it-yourself fashion. Layering on our Push platform, CreateApp users accretion a absolutely end-to-end mCommerce band-aid accurate by our aggregation of able agenda media marketers that can enhance their visibility, chump cartage and ultimately conversions.”
As allotment of a accessible company, Weyland’s new Push accessory will accretion easier admission to advance basic and be bigger able to allure added agent talent. Push can additionally advantage the amount efficiencies and assorted capabilities of Weyland’s absolute 200-person technology and software development aggregation in Jaipur, India, while Weyland assets abstruse and software development adeptness from Push.
Weyland affairs to barrage CreateApp in the U.S. during the aboriginal division of 2020. The North American bazaar is accepted to abutment a college amount point for cable fees as compared to the company’s accepted bazaar in Southeast Asia. A allusive acquirement archetypal of a U.S. industry associate supports 96,000 users at $300 anniversary per month. This is several times college than the accepted CreateApp cable archetypal for Southeast Asia at abandoned $12-$80 per month, depending on alternative appearance implemented.
“Our antecedent assignment with Push to acquaint CreateApp in the U.S. led to this cardinal acquisition, so we accept already fabricated able advance in this regard,” added Suen. “eCommerce is acceptable added adaptable in the U.S., creating a huge new bazaar befalling for CreateApp and AtozPay.”
Weyland’s post-acquisition acquirement archetypal anticipates that U.S. CreateApp cable revenues abandoned could beat $5 actor by end of 2020. This would be in accession to abeyant new Push offerings adopted by Weyland’s absolute all-embracing SMB chump base, as able-bodied as new AtozPay eWallet and adaptable pay integrations in the U.S.
Additional capacity about the absolute asset acquirement acceding are provided in a Form 8-K, accessible at www.sec.gov and the broker relations area of Weyland Tech’s website at weyland-tech.com.
About Push InteractiveThe Push belvedere appearance absolute chump accretion capabilities, awful advantageous media and approach strategies, well-tuned artefact advance and messaging, and sales carry development and optimization. Post-sale, Push supports fulfillment, chump accord management, and added monetization through re-engagement and remarketing toolsets that enhance chump lifetime amount (LTV). Push developed these SaaS-based solutions in-house, with added than $10 actor invested in belvedere development and eight years of real-world use. For added advice about Push Interactive, appointment www.pushint.com.
About Weyland TechWeyland Tech is a developer and all-around provider of adaptable business software applications. The aggregation operates its CreateApp™ platform-as-a-service (PaaS) beyond three continents and 10 countries, including some of the fastest-growing arising markets in Southeast Asia. The belvedere provides a adaptable attendance for small-and-medium sized businesses (SMBs) that is accurate locally by benefactor partnerships.
Offered in 14 languages with added than 70 chip modules, CreateApp enables SMBs to actualize and arrange built-in adaptable applications for Apple iOS and Google Android after abstruse adeptness or background. The technology empowers SMBs to admission sales, adeptness added customers, administer logistics, and advance their articles and casework in an easy, affordable and awful able way.
The company’s subsidiary, Weyland Indonesia Perkasa (WIP), operates AtozPay™ and AtozGo™. The AtozPay adaptable payments belvedere serves the beginning mCommerce and e-Payment markets in Indonesia, the world’s fourth best crawling country. AtozGo is a fast-growing short-distance aliment commitment account operated in Jakarta, Indonesia.
For added information, appointment weyland-tech.com.
Important Cautions Regarding Forward Looking StatementsThis absolution contains assertive “forward-looking statements” apropos to the business of the Company. All statements, added than statements of absolute actuality included herein are “forward-looking statements” including statements regarding: the cleanup of the asset acquirement transaction of Push, the adeptness of the Aggregation to auspiciously accommodate Push, the connected advance of the eCommerce articulation and the adeptness of the Aggregation to abide its amplification into that segment; the adeptness of the Aggregation to allure barter and ally and accomplish revenues; the adeptness of the Aggregation to auspiciously assassinate its business plan; the business strategy, plans, and objectives of the Company; and any added statements of non-historical information. These advanced statements are generally articular by the use of advanced analogue such as “believes,” “expects” or agnate expressions and absorb accepted and alien risks and uncertainties. Although the Aggregation believes that the expectations reflected in these advanced statements are reasonable, they do absorb assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. Investors should not abode disproportionate assurance on these advanced statements, which allege abandoned as of the date of this account release. The Company’s absolute after-effects could alter materially from those advancing in these advanced statements as a aftereffect of a array of factors, including those discussed in the Company’s alternate letters that are filed with the Balance and Exchange Commission and accessible on its website (www.sec.gov). All advanced statements attributable to the Aggregation or bodies acting on its account are especially able in their absoluteness by these factors. Added than as appropriate beneath the balance laws, the Aggregation does not accept any assignment to amend these advanced statements. Aggregation ContactBrent Suen, CEOWeyland Tech Inc.Email contact
Media & Broker ContactRonald Both or Grant StudeCMA Tel (949) 432-7566 Email Contact
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