- Guardforce AI ( NASDAQ: GFAI ) has signed a non-binding letter of intent with Shenzhen Intelligent Guardforce Robot Co., Ltd to acquire Shenzhen Kewei Robot Technology Company Limited.
- The move will provide new robotics-as-a-service capabilities, add key patents and expand Global Fortune 500 customer base .
- The company plans to pay for this acquisition through a combination of cash 10% and restricted common stock of the company 90% at a value of no less than $1/share.
- Guardforce AI expects to enter into a definitive purchase pact with Kewei relating to this acquisition within the next few months.
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The pact supersedes previously announced LOI to acquire 19 robotics subsidiaries of Shenzhen Kewei .
For further details see:
Guardforce announces LOI to acquire Shenzhen Kewei Robot Technology