owerbridge Technologies Co., Ltd. (NASDAQ:PBTS) (“Powerbridge” or the “Company”), a provider of multi-industry technology solutions, announces that the Company has acquired 19% stake of DTI Group Limited (“DTI”), a technology company specializing in international trade digitalization and platforms.
The acquisition is consistent with the Company’s development plan and contributes to the expansion of its operations by building a trade digitalization ecosystem. DTI is one of the leading platform developers and service providers for Digital Trading Infrastructure & Online Dispute Resolution, a global project initiated by the United Nations Conference on Trade and Development. With the strategic acquisition, Powerbridge and DTI will be working closely together to implement the United Nation’s project (the “Project”).
The objective of the Project is to enhance digital trade connectivity and operations among online cross-border trade platforms and offline trade hubs in order to empower both the established and new global trade players. The Project will also be equipped with various digital trade systems that encourage cooperation and communications among local and global players, which is designed to increase the overall efficiency of cross-border trade and e-commerce.
Stewart Lor, CEO of Powerbridge commented: “We see that the market demand for international trade digitalization is growing rapidly. We look forward to working with DTI to integrate our technology and market resources in developing and implementing the United Nation’s Project. We believe this acquisition is critical to our growth and will enhance investor value.”
