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Weyland Tech Enters into Memorandum of Understanding with iAXCESS
Oct. 31, 2017 08:48AM PST
Emerging TechnologyWeyland Tech (OTCQX:WEYL) has announced it has entered into a memorandum of understanding with iAXCESS. As quoted in the press release: “I want to congratulate and thank Ghassan Saade, who joined our strategic advisory board just a few weeks ago, for his success in working out the preliminary terms of our relationship with iAXCESS. Their …
Weyland Tech (OTCQX:WEYL) has announced it has entered into a memorandum of understanding with iAXCESS.
As quoted in the press release:
“I want to congratulate and thank Ghassan Saade, who joined our strategic advisory board just a few weeks ago, for his success in working out the preliminary terms of our relationship with iAXCESS. Their footprint in the Middle East and North Africa (“MENA”) makes an exciting starting point for CreateApp in the region, where ecommerce is expected to grow to $200 Billion through 2020,” said Weyland CEO, Brent Suen.
Mr. Adnan Abu Sharar, CEO of IAXCESS, commented that, “According to the International Finance Corporation at the World Bank more than 19 million businesses call this region their home. We have already begun to speak with some of our larger customers about incorporating Weyland’s technologies into their operations. The response has been positive. To say we are excited to bring the platform to our customers would be an understatement.”
Mr. Suen continued, “iAXCESS is one of the top 10 Microsoft Solution Providers in the region and their customers are exactly the types of businesses that CreateApp was built for. We look forward to providing them the CreateApp platform as a valuable add-on for their clients and expanding our customer base to the millions of small businesses in the region. This relationship builds on our model of working with regional service providers to expand the reach of the CreateApp platform by accessing their existing customer relationships in a way that benefits both companies.”
Ultimately, iAXCESS intends to utilize the Weyland Tech CreateApp platform for iAXCESS’s m-Commerce app and will also provide the CreateApp platform on a white-label basis, as a branded app, to other industries in the MENA Region. This MOU lays the groundwork for the relationship by establishing the preliminary structural terms of the venture.
