Benzinga | Dec 1, 2020 08:04AM EST

Luokung Technology Reports eMapgo Technologies, Beijing Sinotrans Transportation Engaged In Cooperation Deal That EMG Will Build An Urban Distribution Service Platform For Beijing Sinotrans, No Terms Disclosed

Luokung Technology Corp. (NASDAQ:LKCO) ("Luokung" or the "Company"), one of the global leading spatial-temporal big-data processing technology companies, a leading interactive location-based services company in China, today announced that eMapgo Technologies (Beijing) Co., Ltd. ("EMG") and Beijing Sinotrans Transportation Co., Ltd. ("Beijing Sinotrans"), a subsidiary of Sinotrans, which is China's largest comprehensive logistics company, engaged in a cooperation agreement that EMG will build an urban distribution service platform for Beijing Sinotrans to improve the management of its logistics operations and optimize the efficiency of its enterprise operations with intelligent geographic location services. Luokung has engaged in a share purchase agreement to acquire 100% of EMG and announced that the two parties are currently in the process of closing the transaction.

EMG will undertake the development of Beijing Sinotrans Urban Distribution Service Platform, provide intelligent logistics GIS services and corresponding technical services for the platform's customer applications and management components based on location and map services, operation, and management.

This cooperation between EMG and Sinotrans is an auspicious beginning of future collaborations. The two parties will jointly build innovative applications in the logistics field and lay a solid foundation for a smart logistics platform.