HONG KONG, May 10, 2017 (GLOBE NEWSWIRE) -- Value Exchange International, Inc., a Nevada U.S.A. corporation based in Hong Kong, (OTCQB:VEII) (“VEII”) announced today completion of all conditions to the acquisition of TapServices, Inc., a private information technology (“IT”) solutions provider in Philippines, (“TSI”). The acquisition of TSI is part of VEII’s strategic plan to expand VEII IT solutions business beyond its traditional base in Hong Kong and adjacent parts of China.
Business of TSI: Like VEII, TSI is engaged in the business of providing information, data, and communications technology services, to supply and deal in all related products, including computer hardware, software and application products, and to own, design, install, maintain, operate, integrate, sell, lease or otherwise deal in such systems, facilities, gateways, equipment, devices and terminals. TSI’s core market is the Manila region. TSI has the same retail Point of Sale system end user focus as VEII.
Advantages of Acquisition: VEII believes the acquisition of TSI brings the following strengths to VEII:
- TSI’s highly complementary IT solutions business expands the geographic market of VEII; and
- TSI provides a local platform for efforts to increase VEII’s customer base outside of Hong Kong-China; and
- Enhances VEII top line growth rates and provides a new revenue source for VEII.
About VEII. We are a provider of customer-centric solutions for the retail industry in China, Hong Kong SAR and Philippines. We promote ourselves as a single IT source for retailers who wanted to extend existing payment processing systems for full gateway integration of their online shops, Omnichannel at Point of sale (Credit/Debit Cards, Unionpay, and eWallets, and other local forms of payment). Our retail solutions are installed in an estimated 15%-25% of POS/POI-suitable retailers in Hong Kong and Philippines, processing tens of millions of transactions a year. VEII is headquartered in Hong Kong and with offices in Shenzhen, Guangzhou, Shanghai, Beijing, China; Manila, Philippines; and Kuala Lumpur, Malaysia.