Guardforce AI to Expand Robotics as a Service to Greater Bay Area, China

Jan 14, 2022 By MarketDepth

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Guardforce AI Co., Limited (NASDAQ: GFAI) has reported its plans to expand its Robotics as a Service offering with the proposed acquisition of Shenzhen Keweien Robot Service Co., Ltd. and Guangzhou Kewei Robot Technology Co., Ltd.  Guardforce AI is an integrated security solutions provider that protects and transports high-value assets of public and private sector organizations.  Guardforce AI aides clients to adopt new technologies and operate safely as the Asia Pacific business landscape develops. 

Completion Expected in Feb 2022

The proposed acquisition is scheduled to complete by the end of February 2022.  Lei Wang, CEO of Guardforce AI, commented, “This strategic acquisition is emblematic of Guardforce AI’s growth strategy of acquiring successful companies that are leaders in their field. This development is expected to contribute to our goal of scaling operations while providing swift entry into highly evolving markets. China’s surging focus in robotics development and AI applications makes this proposed acquisition a natural fit for us. As a result of this proposed acquisition, we will gain an incredibly experienced and established sales team. Upon the completion, SZ and GZ will benefit from Guardforce AI’s global scale and presence, allowing them enhanced international opportunities.”

Largest Chinese Cities

SZ and GZ are based in the Greater Bay Area as it is one of the fastest-growing economic regions in China as they rank amongst the top 10 largest Chinese cities in the top 30 globally.