Smart Digital Technology to Acquire Majority Stake in Chinese AI Firm

MT Newswires Live

08/21

Smart Digital Technology Group (HKG:1159) said it entered a preliminary agreement to acquire a majority stake in a Chinese firm specializing in transportation artificial intelligence, according to a Hong Kong filing Wednesday.

The company entered a non-legally binding letter of intent to acquire at least 51% of the target company.

Shares of the media firm closed 7% lower on Thursday.

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