Guardforce AI acquires 8 Chinese cos, shares jump
24/05/2022 12:45
** Information security firm Guardforce AI Co's shares
GFAI.O up 25.8% at $0.78 premarket
** GFAI enters into two deals valued at $30 mln to acquire
eight companies in China
** Seven of the eight cos are providers of
Robotics-as-a-Service (RaaS) solutions, while the eighth,
Beijing Wanjia Security System Ltd, is an integrated security
provider valued at $8.4 mln
** Deal will be paid in a combination of 10% cash and 90%
stock at price of $2 per share
** Up to last close, GFAI had fallen 42% this year
(Reporting by Akash Sriram in Bengaluru)
((Akash.Sriram@thomsonreuters.com;))
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