PBTS - Powerbridge Technologies acquired majority stake in DTI

2023-03-30 06:39:31 ET

• Powerbridge Technologies ( NASDAQ: PBTS ) acquired a majority stake of 51% in DTI Group, platform developer and service provider for digital trade infrastructure in China.
• The acquisition is a strategic move that contributes to the expansion of Powerbridge's operations by building a digital trade ecosystem.
• With DTI's strong performance and a series of recently signed digital solutions contracts worth ~$10M, it is expected that this acquisition provides significant values and benefits to Powerbridge.
• In November 2022, the company had acquired a 19% stake in DTI.
• Shares trading 7.8% down premarket.

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