BEIJING, Nov. 23, 2020 /PRNewswire/ -- Luokung
Technology Corp. (NASDAQ: LKCO) ("Luokung" or the
"Company"), one of the global leading spatial-temporal
big-data processing technology companies, a leading interactive
location-based services company in China, today announced it has closed the
acquisition of 67.36% of BOTBRAIN AI LIMITED("BotBrain"). The
Company invested RMB 20 million to
BotBrain and issued 1,789,618 to the former institution investors
of BotBrain.
BotBrain has its unique technical advantages in AI subdomains
such as Natural Language Processing ("NLP"), and it's been actively
using in knowledge management and knowledge services including
knowledge graph construction, entity recognition, and personalized
knowledge content interactions. BotBrain's major clients including
State Grid, China Mobile, FAW-Volkswagen, Bank of China, Tencent
etc.
Luokung has been actively supporting BotBrain to increase its
technical investment in NLP. At the same time, BotBrain's technical
capabilities in NLP and knowledge management will strongly support
the construction of Luokung's intelligent geographic knowledge
system and provide Luokung customers with intelligent GIS and
intelligent spatiotemporal data services.
In 2021, BotBrain's intelligent knowledge management and service
business is expected to contribute US$20
million in revenue to Luokung.
About Luokung Technology Corp.
Luokung Technology Corp. is one of the global leading
spatial-temporal big-data processing technology companies and a
leading interactive location-based services company in China. It provides integrated DaaS, SaaS, and
PaaS services for Internet and Internet of Things of
Spatial-Temporal big data based on its patented technology. Based
on geographic information systems and intelligent Spatial-Temporal
big data, it establishes city-level and industry-level digital twin
holographic data models to actively serve smart cities, intelligent
transportation, smart industry, LBS. http://www.luokung.com
Business Risks and Forward-Looking Statements
This news release contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will", "expects", "anticipates",
"future", "intends", "plans", "believes", "estimates", "target",
"going forward", "outlook" and similar statements. Such statements
are based upon management's current expectations and current market
and operating conditions and relate to events that involve known or
unknown risks, uncertainties and other factors, all of which are
difficult to predict and many of which are beyond the Company's
control, which may cause the Company's actual results, performance
or achievements to differ materially from those in the
forward-looking statements. Further information regarding these and
other risks, uncertainties or factors is included in the Company's
filings with the U.S. Securities and Exchange Commission. The
Company does not undertake any obligation to update any
forward-looking statement as a result of new information, future
events or otherwise, except as required under law.
CONTACT:
The Company:
Mr. Jay Yu
Chief Financial Officer
Tel: +86-10-5327-4727
Email: ir@luokung.com
INVESTOR RELATIONS
PureRock Communications Limited
Email: luokung@pure-rock.com
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SOURCE Luokung Technology Corp.