Benzinga | Nov 19, 2021 02:04PM EST

Guardforce AI Enters Macau, Malaysia Markets Via Merger

* Guardforce AI Co Ltd (NASDAQ:GFAI) (NASDAQ:GFAIW) establishes its presence in two new markets within the Asia Pacific region via the merger of Macau GF Robotics Limited and GF Robotics Malaysia Sdn. Bhd. Financial terms were not disclosed.

* Guardforce AI is a provider of cash solutions and cash handling services located in Thailand.

* The merger will provide entry into the Macau and Malaysia markets focusing on education, hospitality, retail, and corporate sectors, offering immediate growth opportunities.

* The merger is expected to close by the end of January 2022.

* "The Asia Pacific remains an important growth region for Guardforce AI, and fresh on the heels of our recent Singapore headquarters move announcement, we are pleased to announce the expansion into the Macau and Malaysia markets," said Terence Yap, Chairman of Guardforce AI.

* Price Action: GFAI shares are trading lower by 2.35% at $1.66 on the last check Friday.