Luokung Technology to acquire 67.36% of BotBrain
Luokung Technology announced that it has signed a stock purchase agreement to acquire 67.36% of Beijing BotBrain AI Technology Ltd and BotBrain AI Limited. The company will invest RMB 20M to BotBrain and will issue 804,162 ordinary shares at $7 per share to the former institution investors of BotBrain to obtain 67.36%. The 32.64% share equity of BotBrain will be remained by Xueyu Lu, the founder and CEO of BotBrain, along with BotBrain 's core team members. After the acquisition, Lu will continue as CEO of BotBrain AI. BotBrain was established in January 2016, and it has been becoming an advanced provider for intelligent content solutions in China. It's artificial intelligence algorithms and technology are applied in Chinese semantic analysis, intelligent voice interaction, knowledge graph learning, personalized contents recommendation and other related big data analysis.