Alset EHome International Subsidiary GigWorld Inc. Purchases 18% Interest in Value Exchange International, Inc. (VEII)
Alset EHome International (NASDAQ:AEI) has announced that its subsidiary, GigWorld Inc., will acquire an 18% stake in Value Exchange International, Inc. (VEII). Value Exchange, a public holding company based in Hong Kong, specializes in mobile payment solutions across Asia, servicing large retailers like 7-Eleven and Japan Airlines. This investment aims to leverage Value Exchange's strong IT capabilities and expand Alset's global payment platform, with expectations for fresh capital and new market opportunities, according to both companies' executives.
- Acquisition of 18% stake in Value Exchange International enhances strategic investment.
- Value Exchange offers proven POS solutions processing millions of transactions across 20,000 retail outlets.
- Promising future growth potential from leveraging Value Exchange's IT capabilities and market presence.
- None.
BETHESDA, MD / ACCESSWIRE / April 8, 2021 / Alset EHome International Inc. (NASDAQ:AEI) (the "Company"), a diversified holding company principally engaged through its subsidiaries in EHome development and digital transformation technology, today announced that its subsidiary GigWorld Inc. has entered into a Securities Purchase Agreement to purchase an
Value Exchange is a U.S. public holding company headquartered in Hong Kong, with offices in Shenzhen, Guangzhou, Shanghai, and Beijing China, Manila in the Philippines and Kuala Lumpur, Indonesia. Through its subsidiaries, Value Exchange provides Mobile Payment Gateway (QR code purchase at POS) customer-centric solutions for the retail industry in Asia. By integrating market-leading Point-of-Sale/Point-of-Interaction (POS/POI), Merchandising, CRM & Reward, Locational Based (GPS & Indoor Positioning System (IPS)) Marketing, Customer Analytics, and Business Intelligence solutions.
Value Exchange's retail POS solutions process tens of millions of transactions per year at approximately 20,000 retail outlets in Asia. Value Exchange, through its operating subsidiaries, provides POS systems installation, maintenance, software, and systems support and solutions.
Customers of Value Exchange include Hewlett Packard, 7-Eleven, Japan Airlines, Robinsons Retail Holdings Inc., Lenovo, Sa Sa International Holdings, Watsons, Watson's Wine, Hong Kong International Airport, Hong Kong Inland Revenue Department, CTM, PCCW, Fortress, Wellcome, and many more.
"Value Exchange possesses strong IT capabilities, servicing large multinational companies on a global scale. This synergistic investment will prove to be beneficial for the group as we expand and strengthen our global payment system platform," stated Chan Heng Fai, the Company's Chairman and Chief Executive Officer.
"After our 2020 record breaking year in both revenue and profit, Value Exchange is constantly looking for ways to continue the trend. This synergistic investment fits nicely into our plan by providing fresh capital and opportunities in new markets. More importantly, Value Exchange can tap into Mr. Chan's vast experience in management and the capital markets" said Benny Lee, Value Exchange's Founder and Chairman.
About Alset EHome International Inc.
Alset EHome International Inc. is a diversified holding company principally engaged through its subsidiaries in EHome development and digital transformation technology with operations in the United States, Singapore, Hong Kong, Australia and South Korea. The Company's vision is to accelerate sustainable healthy living. The Company's mission is to provide a healthy living ecosystem, encompassing housing, transport, energy alternative healthy food and impact health products.
For more information, please visit: www.alsetehomeintl.com.
Investor Contact:
Dave Gentry, CEO
RedChip Companies Inc.
407-491-4498
Dave@redchip.com
Forward-Looking Statement Disclaimer
Statements in this press release contain "forward-looking statements" that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as "anticipate," "believe," "contemplate," "could," "estimate," "expect," "intend," "seek," "may," "might," "plan," "potential," "predict," "project," "target," "aim," "should," "will" "would," or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Alset EHome International Inc.'s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled "Risk Factors" in the final prospectus related to its initial public offering filed with the SEC. Forward-looking statements contained in this announcement are made as of this date, and Alset EHome International Inc. undertakes no duty to update such information except as required under applicable law.
SOURCE: Alset EHome International Inc.
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FAQ
What is the significance of Alset EHome's investment in Value Exchange International (VEII)?
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