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NEW YORK, Jan. 26, 2021 (GLOBE NEWSWIRE) -- Taoping Inc. (NASDAQ: TAOP, the “Company”), a provider of internet-based smart display screens, and a new-media ecosystem that enables targeted advertising and online retail, announced today that the Company has entered into a strategic partnership agreement with Ivy International Education Technology Co., Ltd. (“Ivy International Education”) to develop and market new learning programs for quality education.
Ivy International Education is a professional organization engaged in study abroad consulting, Project-Based Learning (PBL) program consulting, online education, and charitable education programs. Ivy International Education is the only authorized representative of interactive K-12 Online Learning program provider MommyDaddyMe in the Chinese mainland market.
As part of the agreement, TAOP and Ivy International Education intend to form a joint venture company in China around February 2021. TAOP and Ivy International Education will own 51 percent and 49 percent equity interests in the joint venture, respectively.
The joint venture plans to take the following actions in 2021:
Attract high-income group with study abroad intent by taking advantage of Taoping’s new media ecosystem and established exclusive marketing spaces in residential buildings, office buildings, shopping malls, hotels, and cinemas in over 200 cities in China;
Develop and promote online and offline Project-Based Learning (PBL) programs developed by Ivy International Education for quality education;
Build a new online education platform by combining Taoping smart cloud platform technology and Ivy International Education’s experienced teacher team;
Work together on charitable education programs.
“We are excited about this partnership as we believe it is a milestone for TAOP to tap into the education market with growing demands for online and offline innovative learning programs,” said Mr. Jianghuai Lin, Chairman and CEO of TAOP. “We believe that by combining TAOP’s advertising network and smart cloud platform technology with Ivy International Education’s expertise in international and online education, the joint venture will be well positioned to bring new learning experience to our communities of over 200 cities in China.”
About Taoping Inc.
Taoping Inc. (TAOP), is a leading provider of smart display terminals and solutions for targeted advertising and online retails. The Company provides the integrated end-to-end digital advertising solutions enabling customers to distribute and manage ads on cloud-based ad display screens. Connecting owners of Taoping screens, advertisers and consumers, it builds up a resource sharing "Smart IoT Screen Network- Taoping App - Taoping Go (e-Store)" media ecosystem to ultimately achieve the mission "our technology makes advertising and branding affordable and effective for everyone." To learn more, please visit http://www.taop.com/.
Safe Harbor Statement
This press release may contain certain "forward-looking statements" relating to the business of Taoping Inc., and its subsidiaries and other consolidated entities. All statements, other than statements of historical fact included herein, are "forward-looking statements" in nature within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, often identified by the use of forward-looking terminologies such as "believes", "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company and its subsidiaries and other consolidated entities or persons acting on their behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
For further information, please contact:
Dragon Gate Investment Partners LLC