TAOP Signs LOI to Acquire 51% of Zhenjiang Taoping IoT Technology Limited
Taoping Inc. - Ordinary Shares (TAOP)
Company Research
Source: GlobeNewswire
SHENZHEN, July 28, 2021 (GLOBE NEWSWIRE) -- Taoping Inc. (NASDAQ: TAOP, the “Company” or “TAOP”), a provider of blockchain technology and smart cloud services, today announced that it has entered into a letter of intent (the “LOI”) with the shareholders of Zhenjiang Taoping IoT Technology Limited (“Zhenjiang Taoping”) to acquire not less than 51% of the ownership of Zhenjiang Taoping. Established in June 2018, Zhenjiang Taoping has become a leading and influential new media platform in Zhenjiang after more than three years of rapid development. With Taoping smart screens in commercial centers, office buildings, and residential areas, Zhenjiang Taoping has reached average daily viewership traffic of more than 250,000. As a TAOP Alliance member, it provides customized intelligent marketing services for brand customers in various industries. On June 29, 2021, the Company entered into an investment agreement with Zhenjiang Economic and Technological Development Zone (“ZETDZ”) for TAOP
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