Sunset Capital Assets Inc (OTCMKTS:SNST) entered into a joint venture deal with DAKSHIDIN CORPORATIO (OTCMKTS:DKSC). Mark Seaton, the CEO of Dakshidin, said that the management is excited about the deal. The company has a partner with skills, contacts, and background to execute technology in the highly regulated financial industry. The two companies are encouraged with the future prospects after the deal.
As per the deal, Dashidin will implement and manage the recently acquired technology that will enable company to provide a wide range of financial services and products. The product range comprises a GPR bank account on a card, micro loans, and patented mobile money transfer service, payday advance and remittances. Sunset Capital will serve in various capacities in order to facilitate several business and financial opportunities.
Sunset Capital Assets will tap its current government contacts, banking industry contacts and business relationships to secure investment banking services. It will help the two companies to facilitate the launch of the JV deal. Sunset also said that it plans to implement Dakshidin technologies into its international banking platform.
The management view
Bert Watson Jr., the CIO of Sunset Capital Assets, said that as a management team with more than 75 years of investment banking experience, the company realizes the potential and value of the technology Dakshidin owns. Sunset values the synergy between the two companies and will help deploy Dakshidin’s technology and participate in this lucrative and exciting opportunity.
The other details
In June 2014, Dakshidin stated that it had completed its first strategic asset acquisition. It was a state-of-the-art proprietary electronic payment platform bought from The Tyburn Group Inc. The unique debit and prepaid platform enables the company to provide an end-to-end solution in card issuing segment. The product is an important offering for the unbanked population. The deal with Dakshidin will certainly help Sunset Capital to enhance its offerings.