BEIJING, Sept. 24, 2019 /PRNewswire/ -- Luokung
Technology Corp. (LKCO) ("Luokung" or the
"Company"), is 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. (hereinafter referred to as the "EMG") to officially launch
its Map Cloud Platform (the "Map Cloud Platform")
(http://lbs.emapgo.cn) to provide map services to enterprises
as a neutral map maker.
On August 27, 2019, Luokung
engaged into a share purchase agreement to acquire 100% of EMG and
made an announcement on the following day, and the two parties are
currently in the process of closing the transaction.
The Map Cloud Platform offers map functions and solutions to
both institutional and individual developers to explore and meet
the personalized demand of different user groups for maps. The Map
Cloud Platform provides multiple map service functions, including
customized map presentation styles, multiple ways of query and
search, multiple routing plans, field navigation and customized map
editing platform. In comparison to the competing map service
providers in the market, the Map Could Platform is client-oriented,
orchestrated and highly customized in respect to data, engine and
service, which enables private cloud deployments of data-rich,
full-featured and flexible and highly
customized customer-centric solutions. Currently, EMG is
working closely with global and domestic first-tier cloud service
providers, and expects to provide compliant, accurate and effective
support to their IOT and autonomous driving services in Chinese
market.
Luokung actively integrates it's SuperEngine spatial-temporal
data processing and indexing technology with EMG's Map Cloud
Platform to commercialize a full-vector non-slice personalized map
service. Meanwhile, it significantly enhances the capabilities
of spatial data in computing, intelligent analysis and presentation
of the Map Cloud Platform, which empowers the Map Cloud Platform
with greater graphical data computing operational capabilities.
About eMapgo Technologies (Beijing) Co., Ltd.
EMG is one of the
leading navigation electronic map service providers in China and has obtained Class-A qualification
certificates of navigable surveying and mapping, internet map
service and geographic information system engineering. It has also
obtained quality management system certificates of ISO9001 and
ISO/TS16949 and CMMI3. Its core brand is "eMapgo". EMG provides
users with navigation electronic maps, ADAS maps and HD maps of
China, as well as geographic
location information service through its own map service platform.
Its map database has covered mainland China, Hong
Kong and Macao with over
9-million-kilometer road networks and 80 million POIs. EMG is a top
three mapping company in automotive in-dash navigation market of
China.
About Luokung Technology Corp.
Luokung Technology
Corp. is one of the global leading spatial-temporal big-data
processing technology companies and a leading interactive
location-based services company in China. The Company's mobile application
LuoKuang, provides location- based interaction services for users
based on the world's first non-slicing, full-vector and
full-function mobile internet map, it also provides SDK and API
embedded services to LBS mobile internet developers based on its
full-vector and non-slicing mobile internet map. The Company
provides completed DaaS, SaaS and PaaS services in relation to
spatial-temporal big data internet and internet of things relying
on its proprietary patented spatial-temporal cloud indexing
technology, in fields including but not limited to HD Map, 3D Map,
Internet Application Map, Satellite Remote Sensing Data and
Real-time trajectory. For more information please go to
http://www.luokung.com.
Business Risks and Forward-Looking Statements
This
news release contains forward-looking statements within the meaning
of Section 21E of the Securities Exchange Act of 1934, as amended,
and as defined in the U.S. Private Securities Litigation Reform Act
of 1995. These forward-looking statements can be identified by
terminology such as "will", "expects", "anticipates", "future",
"intends", "plans", "believes", "estimates", "target", "going
forward", "outlook" and similar statements. Such statements are
based upon management's current expectations and current market and
operating conditions and relate to events that involve known or
unknown risks, uncertainties and other factors, all of which are
difficult to predict and many of which are beyond the Company's
control, which may cause the Company's actual results, performance
or achievements to differ materially from those in the
forward-looking statements. Further information regarding these and
other risks, uncertainties or factors is included in the Company's
filings with the U.S. Securities and Exchange Commission. The
Company does not undertake any obligation to update any
forward-looking statement as a result of new information, future
events or otherwise, except as required under law.
CONTACT:
The Company:
Mr. Jay Yu
Chief Financial Officer
Tel: +86-10-5327-4727
Email: ir@luokung.com
INVESTOR RELATIONS
PureRock Communications Limited
Email: luokung@pure-rock.com
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SOURCE Luokung Technology Corp.