Business
AGM Group Holdings Inc. Signs Non-binding MOU with Beijing Hieason Technology Co., Ltd. to Establish Strategic Cooperation in Smart Commercial Advertising Screens
BEIJING, Feb. 11, 2020 /PRNewswire/ -- AGM Group Holdings Inc. ("AGM Holdings" or the "Company") (NASDAQ: AGMH), a software company focusing on fintech
About this update from Agm Group Holdings Inc.
[{"type":"text","content":"BEIJING, Feb. 11, 2020 /PRNewswire/ -- AGM Group Holdings Inc. (\"AGM Holdings\" or the \"Company\") (NASDAQ: AGMH), a software company focusing on fintech software, trading education software, website service and accounting and ERP software, today announced that its indirectly wholly owned subsidiary, Beijing AnGaoMeng Technology Service Co., Ltd. (\"AGM Beijing\"), has entered into a Non-binding Memorandum of Understanding (the \"Non-binding MOU\") with Beijing Hieason Technology Co., Ltd. (\"Beijing Hieason\") to establish strategic cooperation in smart commercial advertising screens. Through strategic cooperation, the parties strive to become a leading smart commercial advertising service agency in China within three years.\nEstablished on May 30, 2014, Beijing Hieason is a high-tech enterprise. Its main technologies and business products include research and development of artificial intelligence computing visual recognition technology algorithm, optical field imaging technology, AR / VR, and 5G data application. Its products are widely applied in various governments and industries.\nPursuant to the Memorandum of Understanding, Beijing Hieason agrees to transfer its intellectual property rights and intangible assets in connection with the smart screens to \"Anxun Union\", a new or existing company to be designated by both parties. AGM Beijing agrees to acquire the equity interest of Anxun Union by cash and by causing AGM Holdings to issue its Class A ordinary shares. \nThe Non-binding MOU does not create an obligation on the part of either party to consummate any transaction. The proposed transaction is subject to a definitive agreement to be negotiated between the two parties, conditioned upon further financial and legal due diligence and approval of the Company's Board of Directors, as well as other customary closing conditions. There is no assurance that any transaction will be concluded. \nAbout AGM Group Holdings Inc.\nIncorporated in April 2015 and headquartered in Hong Kong, AGM Group Holdings Inc. is an emerging technology company, currently engaged in the business of fintech software, trading education software and website service, and accounting and ERP software. For more information, please visit www.agmprime.com. \nForward Looking Statements\nThis news release contains \"forward-looking statements\" within the m...