SPY334.19+5.46 1.66%
DIA275.90+4.20 1.55%
IXIC11,117.53+203.96 1.87%

Datasea Enters Cooperation Framework Agreement With China Africa Friendship Town Investment Group Limited

mpany Aims to Expand its Footprint to International Markets on the African Continent   NEW YORK, Aug. 17, 2020 (GLOBE NEWSWIRE) -- Datasea Inc. (NASDAQ:DTSS) ("Datasea" or the

Benzinga · 08/17/2020 12:32

mpany Aims to Expand its Footprint to International Markets on the African Continent
 

NEW YORK, Aug. 17, 2020 (GLOBE NEWSWIRE) -- Datasea Inc. (NASDAQ:DTSS) ("Datasea" or the "Company"),a technology company engaged in providing smart security solutions and developing education-related technologies in China, has, through one of its variable interest entities, entered into a Cooperation Framework Agreement with China Africa Friendship Town Investment Group Limited ("CAFTI") to establish a general framework and promote Datasea's products across several countries in Africa.

As a Ugandan-based and registered limited company, CAFTI specializes in industrial park investments and construction, IT services, as well as import and export trades across Africa, and has developed a network of contacts across the continent, including, Uganda, the Democratic Republic of Congo, and Ethiopia, among others. Under the Cooperation Framework Agreement, CAFTI will endeavor to promote the Company's products, including its automatic temperature measurement devices, infrared imagers, and facial recognition tools, and facilitate business cooperation in the target markets.

"Our cooperation with CAFTI is an integral component of Datasea's international expansion strategy," said Chairman and CEO, Ms. Liu Zhixin. "CAFTI provides us with an additional sales channel through its distribution contacts across Africa, which we plan to leverage. We are encouraged by the opportunity to penetrate a new market overseas and look forward to continue growing our international footprint by executing our international expansion strategy."