Core Viewpoint - Cheer Holding, Inc. has entered into a non-binding investment framework agreement to acquire a 60% equity stake in Beijing Zhong Ke Zhi Guo Technology Co., Ltd. (ZKZG), a provider of synthetic data utilizing generative AI and simulation technology, through a combination of share issuance and cash payment [1]. Group 1: Acquisition Details - The specific terms and overall valuation of the transaction will be disclosed upon the signing of definitive agreements, following satisfactory completion of due diligence, audit, and evaluation of ZKZG [2]. - The acquisition reflects Cheer Holding's commitment to strengthening its presence in the artificial intelligence value chain and accelerating growth in the AI sector [4]. Group 2: Company Profile - Cheer Holding is a leading provider of advanced mobile internet infrastructure and platform services in China, dedicated to building a digital ecosystem that integrates platforms, applications, technology, and industry [5]. - The company is developing a 5G+VR+AR+AI shared universe space, leveraging cutting-edge technologies including blockchain, cloud computing, extended reality, and digital twin [5]. - Cheer Holding's portfolio includes a wide range of products and services, such as CHEERS Telepathy, CHEERS Video, CHEERS e-Mall, and various AI-driven offerings, providing diverse application scenarios that blend online/offline and virtual/reality elements [6].
Cheer Holding Announces Plan to Acquire 60% Equity Stake in ZKZG, Accelerating AI Development