TMSR Holding Closes the Acquisition of Sichuan Wuge Network Co., Ltd.
TMSR HOLDING CO LTD COMMON (TMSR)
Company Research
Source: PR Newswire
NEW YORK, March 11, 2020 /PR Newswire/ -- TMSR Holding (NASDAQ: TMSR), an eco-technology company, announces today that it has closed the acquisition of Sichuan Wuge Network Co., Ltd. (WG), its first strategic acquisition of 2020 as part of its diversified development agenda. The completion of the transaction is subject to the audit of WG.Dr. Wei Xu is the inventor of Codechain technology and the QR code scanning patent (U.S. patent No.: US 9,204,241 ?2) and founder of WG. Dr. Xu has started his new role as co-chairman of TMSR, as of February 26, 2020. To date, WG has signed over 200 contracts with revenue of about 130 million RMB (18,689,975 USD).With WG's already signed contracts, TMSR believes that the Company's performance will grow steadily in 2020 with further investment in the field of digital technology, thereby maximizing shareholders' value. About TMSR Holding Company LimitedFounded in 2009, TMSR Holding Company Limited engages in the research, development, and sale of an arr
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