Guardforce AI Plans to Expand Robotics as a Service (RaaS) to China’s Greater Bay Area
Guardforce AI Co., Limited (NASDAQ:GFAI, GFAIW) has announced plans to expand its Robotics as a Service (RaaS) offering through the acquisition of Shenzhen Keweien Robot Service Co., Ltd and Guangzhou Kewei Robot Technology Co., Ltd. The acquisition is expected to be completed by the end of February 2022 and is valued at approximately US$10 million, with 90% paid in restricted shares. This strategic move aims to strengthen Guardforce AI's presence in China's rapidly evolving robotics market.
- Planned acquisition valued at approximately US$10 million will strengthen market presence.
- Acquisition will enhance operational scale and provide entry into evolving robotics markets.
- Gains an experienced sales team from the acquired companies, potentially boosting revenue.
- Acquisition subject to completion of due diligence and third-party consents, introducing uncertainty.
NEW YORK, NY / ACCESSWIRE / January 14, 2022 / Guardforce AI Co., Limited ("Guardforce AI" or the "Company") (NASDAQ:GFAI)(NASDAQ:GFAIW), an integrated security solutions provider, announced today, the planned expansion of its Robotics as a Service (RaaS) offering with the proposed acquisition of Shenzhen Keweien Robot Service Co., Ltd ("SZ") and Guangzhou Kewei Robot Technology Co., Ltd ("GZ"). The proposed acquisition is scheduled to be completed by the end of February 2022.
The purchase price will be based upon a valuation that is equal to 0.55-times five years (from year 2022 to year 2026) projected average revenue for both SZ and GZ, which is estimated to be US
Lei Wang, CEO of Guardforce AI, commented, "This strategic acquisition is emblematic of Guardforce AI's growth strategy of acquiring successful companies that are leaders in their field. This development is expected to contribute to our goal of scaling operations while providing swift entry into highly evolving markets. China's surging focus in robotics development and AI applications makes this proposed acquisition a natural fit for us. As a result of this proposed acquisition, we will gain an incredibly experienced and established sales team. Upon the completion, SZ and GZ will benefit from Guardforce AI's global scale and presence, allowing them enhanced international opportunities."
SZ and GZ are based in the Greater Bay Area, one of the fastest-growing economic regions in China with both Shenzhen and Guangzhou ranking among the top 10 largest Chinese cities and in the top 30 globally. SZ and GZ derive revenues from AI robotic services which automate repetitive tasks, making them less labor intensive in the hospitality, healthcare, property management, and government sectors.
About Guardforce AI Co., Ltd.
Guardforce AI Co. Ltd. (NASDAQ:GFAI)(NASDAQ:GFAIW) is a leading integrated security solutions provider that is trusted to protect and transport the high-value assets of public and private sector organizations. Developing and introducing innovative technologies that enhance safety and protection, Guardforce AI helps clients adopt new technologies and operate safely as the Asia Pacific business landscape evolves.
For more information, visit www.guardforce.ai
Forward Looking Statements
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Media Relations
Patrick Yu
Email: patrick.yu@fleishman.com
Phone: (+852) 2586-7877
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Shannon Devine
Email: GFAI@mzgroup.us
Phone: +1 203-741-8811
Guardforce AI Corporate Communications
Hu Yu
Email : yu.hu@guardforceai.com
SOURCE: Guardforce AI Co., Limited
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FAQ
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