Luokung Technology operating affiliate, Beijing Zhong Chuan Shi Xun Technology, has agreed to acquire Beijing Hongda Jiutong Technology Development . The company expects to close this transaction by the end of the second quarter of 2022.
Hongda Jiutong is a big data service provider for intelligent transportation and connected vehicles in China. Through the services it provides to OEMs, Hongda Jiutong’s intelligent algorithm reaches 10 million vehicles and covers roads nationwide. Customers include 20 domestic and international OEMs and related enterprises such as FAW Group, Dongfeng Motor and Foton Motor.
Xuesong Song, Luokung chairman and CEO, said: “Hongda Jiutong’s CEO, Chuanjiu Wang, is widely recognised for his academic and business accomplishments in Automatic Terminal Information Service (ATIS) and big data analysis of the Internet of Vehicles, and the Luokung leadership team and I look forward to working with him. We believe Hongda Jiutong’s expertise in the underlying data of vehicles will empower Luokung to achieve faster industrial implementation in autonomous driving and vehicle-road collaboration (V2X).”