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The Kewei composite wing drone combines the traits of long-endurance, high-speed and long-distance of fixed-wing UAVs and the vertical take-off and touchdown of rotor-wing drones. | Source: Kewei Robot
Guardforce AI Co., Limited, an AI and Robot-as-a-Service (RaaS) supplier, introduced it has signed a definitive settlement with Shenzhen Kewei Robot Technology Company Ltd to amass sure components of Kewei’s robotic business-related belongings in China.
This story updates our prior story earlier this yr concerning the LOI between GFAI and Kewei.
As a results of the settlement, Kewei will switch choose gear belongings, consumer base within the gross sales pipeline and associated gross sales channels and workers, in addition to present rights to the everlasting use of its patents, thereby enhancing Guardforce AI’s new Robot-as-a-Service (RaaS) gross sales and capabilities.
The buy worth for these belongings is predicted to be roughly 2.1 million US {dollars}, which shall be absolutely paid within the type of 10,500,000 restricted odd shares of the Company primarily based on $0.20 per share. The Company expects to finish the acquisition within the first quarter of 2023, topic to customary closing situations.
With this acquisition, Guardforce AI can have entry to the whole China market by means of the gross sales channels and brokers constructed by Kewei since 2019, and can serve purchasers throughout varied industries, reminiscent of eating places, accommodations and workplace buildings, together with Fortune 500 clients. The income streams will embrace robotic rental, promoting and technical providers throughout many of the main metropolitan cities in China. The everlasting utilization of the prevailing robotic-related patents and software program gives a stable basis for future RaaS functionality, and the events anticipate a seamless transition for all present purchasers. With the belongings acquired by means of this acquisition, together with the robotic corporations Guardforce AI acquired in March of 2022, the Company’s complete robotic-related income throughout the whole China market is predicted to achieve roughly $12 million in 2023, with robust development projected over the following three years.
Olivia Wang, Chairwoman and Chief Executive Officer of Guardforce AI, commented, “This acquisition is expected to be truly transformative, as it not only strengthens our foothold in major cities and regions across China, but also provides us new capabilities and a diverse customer base across a wide range of industries. Kewei has a strong track record of growth, and with the addition of the client base, sales channels and salesforce we are acquiring, we anticipate revenue growth in the robotic sector for the foreseeable future. We also look forward to leveraging these newly acquired capabilities across our global platform and expect to benefit from meaningful economies of scale. Importantly, completing the acquisition entirely with stock illustrates the support from Kewei shareholders and the team’s confidence and belief in our RaaS business. We look forward to the journey ahead.”