On August 27, 2019, Luokung engaged into a share purchase agreement to acquire 100% of EMG and made an announcement on the following day, and the two parties are currently in the process of closing the transaction.
The Map Cloud Platform offers map functions and solutions to both institutional and individual developers to explore and meet the personalized demand of different user groups for maps. The Map Cloud Platform provides multiple map service functions, including customized map presentation styles, multiple ways of query and search, multiple routing plans, field navigation and customized map editing platform. In comparison to the competing map service providers in the market, the Map Could Platform is client-oriented, orchestrated and highly customized in respect to data, engine and service, which enables private cloud deployments of data-rich, full-featured and flexible and highly customized customer-centric solutions. Currently, EMG is working closely with global and domestic first-tier cloud service providers, and expects to provide compliant, accurate and effective support to their IOT and autonomous driving services in Chinese market.
Luokung actively integrates it's SuperEngine spatial-temporal data processing and indexing technology with EMG's Map Cloud Platform to commercialize a full-vector non-slice personalized map service. Meanwhile, it significantly enhances the capabilities of spatial data in computing, intelligent analysis and presentation of the Map Cloud Platform, which empowers the Map Cloud Platform with greater graphical data computing operational capabilities.
About eMapgo Technologies (Beijing) Co., Ltd.
EMG is one of the leading navigation electronic map service providers in China and has obtained Class-A qualification certificates of navigable surveying and mapping, internet map service and geographic information system engineering. It has also obtained quality management system certificates of ISO9001 and ISO/TS16949 and CMMI3. Its core brand is "eMapgo". EMG provides users with navigation electronic maps, ADAS maps and HD maps of China, as well as geographic location information service through its own map service platform. Its map database has covered mainland China, Hong Kong and Macao with over 9-million-kilometer road networks and 80 million POIs. EMG is a top three mapping company in automotive in-dash navigation market of China.
About Luokung Technology Corp.
Luokung Technology Corp. is one of the global leading spatial-temporal big-data processing technology companies and a leading interactive location-based services company in China. The Company's mobile application LuoKuang, provides location- based interaction services for users based on the world's first non-slicing, full-vector and full-function mobile internet map, it also provides SDK and API embedded services to LBS mobile internet developers based on its full-vector and non-slicing mobile internet map. The Company provides completed DaaS, SaaS and PaaS services in relation to spatial-temporal big data internet and internet of things relying on its proprietary patented spatial-temporal cloud indexing technology, in fields including but not limited to HD Map, 3D Map, Internet Application Map, Satellite Remote Sensing Data and Real-time trajectory. For more information please go to http://www.luokung.com.
Business Risks and Forward-Looking Statements
This news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will", "expects", "anticipates", "future", "intends", "plans", "believes", "estimates", "target", "going forward", "outlook" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control, which may cause the Company's actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.
Mr. Jay Yu
Chief Financial Officer
PureRock Communications Limited
SOURCE Luokung Technology Corp.
|Company Name: Luokung Technology Corp.
Financial data for Luokung Technology Corp.