Sino Payments, Inc. (SNPY) is pleased to announce plans to conclude its merger with TIG operations.
All shareholders of record of Sino Payments have received the Definitive 14C notification required to take corporate actions needed to complete the merger and fold TIG into Sino Payments, Inc.
Sino Payments expects to complete the process as described in the recently filed 14C and to conclude the integration of TIG operations, revenues, clients, and ongoing developments within this year 2012.
The integration completed today significantly contributes to margin improvements and sustainability of Sino Payments, Inc. as well as enhancing future prospects for TIG. Further, the merger offers TIG a solid growth platform in the retail solution market.
With over 20 years of experience, TIG has gained invaluable experience and know-how on how to help retailers to stay ahead of the competition. The company's continuous success is reflected in its core business growth i.e. a 25% Year-on-Year (YOY) in 2010.
Sino Payments' President and Founder, Matthew Mecke, stated, "We have been working towards this day for several years and I am proud we can finally announce that we have set the date to complete this merger between Sino Payments and TAP. Sino Payments' diversified portfolio in the IT solutions industry and the continuous execution on our strategic priorities provides TIG the strength and advantages to benefit from current trends in IT solutions as well as protection from macroeconomic effects. We will continue to keep our shareholders informed of our future joint operations."
Benny Lee, Founder of TIG also added, "We have been planning for this merger for months and are very excited that it will happen soon. Once it is completed, we will concentrate on transforming Sino Payments Inc. into a prime IT solutions provider in the Asia region. This leverage gives our customers confidence that our services work together as designed. This helps reduce risk and improves performance for our customers and provide exciting opportunities for our ur employees. By combining with Sino Payments Inc., TIG further expands its capabilities, adds new customer relationships in its target markets, and expands its footprint with its existing customers."