GFAI GUARDFORCE AI CO LTD

Guardforce AI Closes Previously Announced Asset Acquisition of Kewei’s Robot Business

Guardforce AI Closes Previously Announced Asset Acquisition of Kewei’s Robot Business

Acquisition Strengthens Robot-as-a-Service Capabilities and Intellectual Property; Expands Geographic Footprint for AI and Robotic Capabilities

NEW YORK, Feb. 15, 2023 (GLOBE NEWSWIRE) -- Guardforce AI Co., Limited (“Guardforce AI” or the “Company”) (NASDAQ: GFAI, GFAIW), an integrated security solution, AI and Robot-as-a-Service (RaaS) provider, today announced it has closed the acquisition with Shenzhen Kewei Robot Technology Company Ltd ("Kewei”) to acquire certain of Kewei’s robot business assets in China.  

The acquisition includes the transfer of certain equipment, clients in the sales pipeline, related sales channels and staff, as well as rights to the permanent use of its patents. Customers for the acquired business span various industries, such as restaurants, hotels, and office buildings, including Fortune 500 companies. Additionally, the acquired rights to patents are expected to further enhance Guardforce AI’s capabilities in RaaS development, which complement the Company’s advanced AI capabilities.

The definitive agreement was signed on December 21, 2022, and the total purchase price for this acquisition was USD $2.1 million. The acquisition was originally expected to be paid fully in the form of 10,500,000 restricted ordinary shares of the Company based on $0.20 per share. With the approval of Guardforce AI’s special shareholder meeting on January 31, 2023 for a reverse split of a 1:40 ratio, the acquisition will be paid in [262,500] restricted ordinary shares of the Company based on $8.00 per share on a split adjusted basis.

Olivia Wang, Chairwoman and Chief Executive Officer of Guardforce AI, commented, “As a growing RaaS solution provider, the newly acquired robot assets and rights to patents are expected to further strengthen our capabilities in developing robotic solutions for our customers. Moreover, with an expanded global footprint and growing AI resources, we look forward to further expanding our RaaS solutions such as AIoT robot advertising, AI-based support for hotels, and other uses of AI services, especially within the tourism industry where we are witnessing rapid growth in demand.”

About Guardforce AI Co., Ltd.

Guardforce AI Co., Ltd. (NASDAQ:GFAI, GFAIW) is a global security solutions provider, building on its legacy secured logistic business, while expanding and transforming into an integrated AI and Robot-as-a-Service (RaaS) business.  With more than 40 years of professional experience and a strong customer foundation, Guardforce AI is developing RaaS solutions that improve operational efficiency, quickly establishing its presence in the Asia Pacific region, while expanding globally. For more information, visit Twitter: 

Safe Harbor Statement

This press release contains statements that do not relate to historical facts but are "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can generally (although not always) be identified by their use of terms and phrases such as anticipate, appear, believe, continue, could, estimate, expect, indicate, intend, may, plan, possible, predict, project, pursue, will, would and other similar terms and phrases, as well as the use of the future tense. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on current beliefs, expectations and assumptions regarding the future of the business of the Company, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control, including the risks described in our registration statements and reports under the heading "Risk Factors" as filed with the Securities and Exchange Commission. Actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Forward-looking statements in this press release speak only as of the date hereof. Unless otherwise required by law, we undertake no obligation to publicly update or revise these forward-looking statements, whether because of new information, future events or otherwise.

Investor Relations:

David Waldman or Natalya Rudman

Crescendo Communications, LLC

Email:

Tel: 212-671-1020

Guardforce AI Corporate Communications

Hu Yu

Email:  



EN
15/02/2023

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on GUARDFORCE AI CO LTD

 PRESS RELEASE

Guardforce AI Reports Full-Year 2024 Financial Results and Provides Bu...

Guardforce AI Reports Full-Year 2024 Financial Results and Provides Business Update Gross profit increased 16.1% in 2024 compared to 2023 Building a robust AI technology foundation to drive solution development in travel and retail Guardforce AI management to host conference call today at 8:30 AM ET NEW YORK, April 28, 2025 (GLOBE NEWSWIRE) -- Guardforce AI Co., Limited (“Guardforce AI” or the “Company”) (NASDAQ: GFAI, GFAIW), a global integrated security provider specializing in secured logistics, Artificial Intelligence (AI), and Robot-as-a-Service (RaaS), today announce...

 PRESS RELEASE

Guardforce AI to Host Year-End 2024 Financial Results Conference Call ...

Guardforce AI to Host Year-End 2024 Financial Results Conference Call on Monday, April 28th at 8:30 A.M. ET NEW YORK, NY, April 25, 2025 (GLOBE NEWSWIRE) -- Guardforce AI Co., Limited (“Guardforce AI” or the “Company”) (NASDAQ: GFAI, GFAIW), a global integrated security provider specializing in secured logistics, Artificial Intelligence (AI), and Robot-as-a-Service (RaaS), today announced it will host a conference call at 8:30 a.m. Eastern Time on Monday, April 28, 2025, to discuss the Company’s financial results for the year ended December 31, 2024. The call will also include an update o...

 PRESS RELEASE

Guardforce AI Launches DVGO, an AI Travel Planning Tool Powered by Spe...

Guardforce AI Launches DVGO, an AI Travel Planning Tool Powered by Specialized AI Agents, in the United States Strategic Expansion into Global Travel Industry NEW YORK, NY , April 01, 2025 (GLOBE NEWSWIRE) -- Guardforce AI Co., Limited (“Guardforce AI” or the “Company”) (NASDAQ: GFAI, GFAIW), a global integrated security provider specializing in secured logistics, Artificial Intelligence (AI), and Robot-as-a-Service (RaaS), today announced the beta launch of DeepVoyage Go (“DVGO”), an AI-powered travel planning tool powered by specialized AI agents. Unlike traditional generative AI, D...

 PRESS RELEASE

Guardforce AI Secures Long-Term Partnership and Revenue Base Through 3...

Guardforce AI Secures Long-Term Partnership and Revenue Base Through 3-year, Multi-Million Dollar Contracts with Government Savings Bank in Thailand NEW YORK, NY, Jan. 28, 2025 (GLOBE NEWSWIRE) -- Guardforce AI Co., Limited (“Guardforce AI” or the “Company”) (NASDAQ: GFAI, GFAIW), an integrated security, AI and Robot-as-a-Service (RaaS) provider, today announced that Guardforce Cash Solutions Security (Thailand) Company Limited ("GFCS"), the secured logistic subsidiary of Guardforce AI, has renewed key contracts with its long-term customer, the Government Savings Bank (GSB) in Thailand. G...

 PRESS RELEASE

Guardforce AI Accelerates AI Agent Capabilities Through Collaboration ...

Guardforce AI Accelerates AI Agent Capabilities Through Collaboration with Librum Technologies NEW YORK, NY, Dec. 04, 2024 (GLOBE NEWSWIRE) -- Guardforce AI Co., Limited (“Guardforce AI” or the “Company”) (NASDAQ: GFAI, GFAIW), an integrated security, AI and Robot-as-a-Service (RaaS) provider, today announced a significant advancement in its collaboration with , (“Librum”), a Massachusetts based technology company founded by leading AI researchers and professors. This partnership focuses on developing cutting-edge AI agents that serve as the technological foundation for the Company’s AI-p...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch