Sino United Signed a Share Exchange Agreement to Acquire 20% of iDrink Technology Co. Ltd.
NEW YORK, NY, Aug. 15, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Sino United Worldwide Consolidated Ltd. (OTC: SUIC), a New York based fintech firm, and iDrink Technology Co. Ltd., Taiwan (iDrink) signed a Share Exchange Agreement (SEA) to work together on the distribution of iDrink Smart IoT Vending Machine in the international market.
Upon closing of the SEA, SUIC will acquire a 20% stake in iDrink in exchange for delivery, by the Company to iDrink, of 1,000,000 SUIC restricted common shares.
The beer market is forecasted to reach USD805 billion by 2024 and hit the Trillions mark thereafter, registering a CAGR of 5.5% during the forecast period (2019 - 2024) in its largest market in the Asia Pacific region, which is home to 60 percent of the world's population, some 4.3 billion people, with millennials comprising 25% of the total workforce population, driving the global beer market. The global beverage market overall has promising opportunities (for alcoholic and non-alcoholic beverages), and is expected to reach an estimated of $2 trillion by 2021, growing at a CAGR of 3.0% to 2021, pushed by growing urbanization and improving disposable income. This business alliance and investment expects steady annual revenue stream from the sale of one million units of iDrink Smart IoT Vending Machine worldwide.
Following closing, SUIC intends to assist iDrink develop its marketing plans and to implement strategic marketing alternatives globally. SUIC believes this synergy is a significant milestone that will provide new growth opportunities for SUIC and iDrink, combining the complementary strengths to become a laterally positioned provider of smart IoT vending solutions. SUIC is looking forward to implementing new vision for this cooperation, further strengthening iDrink brand worldwide.
About iDrink Technology Co. Ltd.
iDrink Technology Co. Ltd., Taiwan (“iDrink”) designs the iDrink Smart Vending Machine, for the global trillions-dollar beverage industry, utilizing cloud platform services that consolidate consumption data from beverage manufacturers and consumers alike, and uploading the data to its blockchain-enabled iDrink Smart Vending Machine. iDrink Smart Vending Machine is a beverage vending machine and a cryptocurrency mining machine, as well as a O2O digital currency ATM terminal. iDrink Smart Vending Machine manages real-time inventory information, track fleet of beverage suppliers, offer myriad of data about its consumers’ habits and spending through a seamless cryptocurrency payment system, using business intelligence and analytics solutions with Internet of Things (IoT), Bluetooth and RFID tags.
iDrink Smart Vending Machine is the world’s first ever beverage E-commerce and social exchange platform, a smart IoT vending machine first ever of its kind! iDrink will construct a O2O ecosystem by making available the iDrink tokens and coins to users worldwide. Thus, connecting its blockchain technology with the IoT through Bluetooth on smartphones and other devices.
About Sino United Worldwide Consolidated Company
The Sino United Worldwide Consolidated Company provides Venture Financing and Blockchain services to five sectors including: “Logistics & Trade”, “Vehicle & Transportation”, “Finance & Coin”, and “Medical & Healthcare”, and a new addition, “Fintech.” The addition of the Fintech sector to SUIC’s Blockchain services includes a comprehensive update in which SUIC will build up its own internal capabilities by actively starting a Blockchain training program, developing a 3rd generation Smart Contract Blockchain under the SUIC brand, and using these capabilities to offer a comprehensive ICO consultancy. Shareholders of SUIC will be exposed to the diverse application of blockchain services in various parts of the economy. Additionally, existing and potential customers can benefit from this company’s diversified portfolio of technologies and consulting services in the four sectors. As one of the first publicly traded technology companies, SUIC serves as an innovative leader by integrating these five sectors. To learn more, please visit www.sinounitedltd.com.
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