GFAI - Guardforce to expand Robotics as a Service to China's greater Bay Area; reaffirms FY22 guidance

Guardforce AI (NASDAQ:GFAI) to acquire Shenzhen Keweien Robot Service and Guangzhou Kewei Robot Technology for purchase price of $10M  which will be paid in a mix of 10% cash and 90% restricted ordinary shares of the company, each share will be valued at $4.20. The acquisition is expected to serve an integral role in the growth of Guardforce AI's robotics as a service (RaaS) business initiative. The deal is expected to be closed by end of April 2022. Focused on the hospitality, healthcare, property management, and government sectors, SZ and GZ derive revenues from AI robotic services which automate repetitive tasks, making them less labor intensive. The company has reiterated its 2022 full-year revenue expectations of $55M-$60M, representing growth of more than 66% as compared to 2021.

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Guardforce to expand Robotics as a Service to China's greater Bay Area; reaffirms FY22 guidance