BEIJING, March 17, 2020 /PRNewswire/ -- Luokung Technology Corp. (NASDAQ: LKCO) ("Luokung" or the "Company"), one of the global leading spatial-temporal big-data processing technology companies, a leading interactive location-based services company in China, today announced it has entered into a strategic partnership with Jiangsu Dianyu Information Technology Co., Ltd. ("Dianyu"), to leverage each other's respective advantages, and to actively expand mobile commercial big data services in the 5G era. The two parties have signed and started implementation of a series of cooperation agreements on certain projects and services.
Dianyu will rely on the SuperScylla data processing service platform of Luokung to integrate vector maps, satellite remote sensing images, IoT streaming data and other multi-format data services in order to actively expand the applications and services using dynamic trajectories in IoT and LBS. In the meantime, the marketing capabilities of Dianyu and the excellent solution service capabilities of its SaaS platform and programs like "Dianke", will bring more projects and users to Luokung. In 2020, Luokung expects to generate approximately USD 10 million revenue related to the PaaS, SaaS, and DaaS services provided by Luokung's SuperScylla data service platform to Dianyu and its customers.
As a strategic partner, Dianyu will be granted a seat in the Strategic Committee of Luokung, and will provide strategic decision support for Luokung.
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 core business brands of the Company are "Luokuang" and "Superengine". The Company mainly provides spatial temporal big data PaaS, SaaS and DaaS intelligent services based on its self-developed patented technology which can be applied in Mobile Internet LBS, Internet Travelling, Intelligent Transportation, Automatic Drive, Smart City, Intelligent IoT, Natural Resources Exploration and Monitoring and so on. These services are integrated intelligent computing and application services for spatial temporal data which including but not limited to Satellite and UAV Remote Sensing Image Data, HD Map, 2D and 3D Internet Map, Real-time Trajectory, IoT Industrial Stream Data.
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.