Business
Dogness (International) Corporation Announces Strategic Investment in Petcare Internet of Things Platform
Dogness (International) Corporation ("Dogness" or the "Company") (NASDAQ: DOGZ), a developer and manufacturer of a comprehensive line of Dogness-branded, OEM and private label pet products, today announced that the Company has entered into a share acquisition agreement (the "Agreement") with a shareholder of Dogness Intelligent Technology Co., Ltd. ("DITC") to acquire a 19.5% equity interest in DITC in exchange for Dogness's Class A common shares and warrants to purchase Class A common shares.
About this update from Dogness (international) Corporation
[{"type":"text","content":"DONGGUAN, China and PLANO, Texas, May 19, 2025 /PRNewswire/ -- Dogness (International) Corporation ("Dogness" or the "Company") (NASDAQ: DOGZ), a developer and manufacturer of a comprehensive line of Dogness-branded, OEM and private label pet products, today announced that the Company has entered into a share acquisition agreement (the "Agreement") with a shareholder of Dogness Intelligent Technology Co., Ltd. ("DITC") to acquire a 19.5% equity interest in DITC in exchange for Dogness's Class A common shares and warrants to purchase Class A common shares.","length":620,"tagName":"p"},{"type":"image","alt":"Logo (PRNewsfoto/Dogness International Corporation)","displaySize":"","headline":null,"caption":"Logo (PRNewsfoto/Dogness International Corporation)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":256,"url":"https://media.zenfs.com/en/prnewswire.com/d163f437e5c65b2a42ace5968dc22f84"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/kTZAy2kOcFfCyVvee5uBuw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTQ1MTtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/d163f437e5c65b2a42ace5968dc22f84","width":400,"height":256}},"href":"https://mma.prnewswire.com/media/1417719/Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Established in 2018, DITC focuses on the research and development of Internet of Things (IoT) and app platforms in the pet industry. DITC is dedicated to creating user-centered intelligent petcare devices and applications that help track pet activities, collect health data, protect, feed, follow, and monitor pets, even if owners are not with their pets.","length":355,"tagName":"p"},{"type":"text","content":"Mr. Silong Chen, Chief Executive Officer of Dogness, stated, "We are pleased to invest and acquire a strategic stake in DITC, an emerging player in petcare technology. With the growing focus on pet health and wellness, and advancements in IoT, AI, and data analytics driving demand for pet tech products that monitor activity and track vitals, DITC's innovative approach and commitment to developing a user-centered intelligent pet ecosystem align well with our strategic goals. We are excited to work with DITC and explore new opportunities for growth in the expanding petcare market."","length":...