Guardforce AI Closes Deal to Acquire Shenzhen Keweien & Guangzhou Kewei

NEW YORK, NY / ACCESSWIRE / March 22, 2022 / Guardforce AI Co., Limited ("Guardforce AI" or "Company") (NASDAQ:GFAI, GFAIW), an integrated security solutions provider, announced today the closing of the previously announced acquisition of Shenzhen Keweien Robot Service Co., Ltd ("SZ") and Guangzhou Kewei Robot Technology Co., Ltd ("GZ") for a price of U.S. $10,000,000 paid in a mix of cash (10%) and restricted ordinary shares of the Company (90%). The closing conditions were satisfied sooner than originally anticipated, thus allowing the Company to expedite the closing ahead of schedule.

SZ and GZ are based in the Greater Bay Area, one of the fastest-growing economic regions in China with both Shenzhen and Guangzhou ranking among the top 10 largest Chinese cities and among the 30 largest cities globally. Focused on the hospitality, healthcare, property management, and government sectors, SZ and GZ derive revenues from AI robotic services which automate repetitive tasks, making them less labor intensive.

About Guardforce AI Co., Ltd.

Guardforce AI Co. Ltd. (NASDAQ:GFAI, GFAIW) is a global integrated security solutions provider that is focused on developing robotic solutions and information security services that complement its well-established secured logistics business. With more than 40 years of professional experience, Guardforce AI is a trusted brand name that protects and transports the high-value assets belonging to public and private sector organizations. Guardforce AI develops and provides innovative technologies and services that enhance safety and protection.

For more information, visit www.guardforceai.com

Forward Looking Statements

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Media Relations

Patrick Yu
Email: patrick.yu@fleishman.com
Phone: (+852) 2586-7877

Investor Relations

Shannon Devine
Email: GFAI@mzgroup.us
Phone: +1 203-741-8811

Guardforce AI Corporate Communications

Hu Yu
Email : yu.hu@guardforceai.com

SOURCE: Guardforce AI Co., Limited