- The agreement will create strategic cooperation in smart industrial advertisement screens
- Beijing AnGaoMeng Expertise Service is AGM's indirectly wholly owned subsidiary
AGM Group Holdings Inc., a software company that specializes in fintech software program by both buying & selling web site services, as well as ERP software program, has reportedly announced that Beijing AnGaoMeng Expertise Service, it's indirectly wholly owned business, has inked a Non-binding Memorandum of Understanding with Beijing Hieason Expertise Co., Ltd in order to create strategic cooperation on smart commercial advertising service.
Apparently, both the parties have been aiming to turn into excellent industrial promoting service firms in China within the span of three years through the strategic cooperation.
Under the terms of the Memorandum of Understanding, Beijing Hieason has agreed to switch its intangible belongings and intellectual property rights in association with the smart screens to Anxun Union which happens to be a new or an already existing company that will be designated by the parties. AGM Beijing aims to buy the equity interest in Anxun Union in cash and by issuing Class A ordinary shares of AGM Holdings.
According to reliable sources, the Non-binding MOU does not make it an obligation for both parties to complete the transactions. The proposed transactions are considered to be a definitive settlement that must be negotiated between both parties, with the approval of the Board of Administrators of the company, conditioned upon with authorized legal and financial due intelligence, besides various customary closing conditions.
Seemingly, the companies have given absolutely no assurance regarding the conclusion of the transaction.
For the record, Beijing Hieason was established on May 30, 2014, as a high tech enterprise. The business products, as well as its applied sciences and technologies support growth and analysis of artificial intelligence computing recognition tech algorithms along with optical imaging tech, 5G data software and AR/VR. The products of this company are widely used in a number of various industries and governments.
Source Credit- https://www.prnewswire.com/news-releases/agm-group-holdings-inc-signs-non-binding-mou-with-beijing-hieason-technology-co-ltd-to-establish-strategic-cooperation-in-smart-commercial-advertising-screens-301003346.html