Going to Artificial Intelligence (A.I.)Internet of Things with Video (iOVT)Focused on cutting-edge technology development
Strong entry into North American market
Hong Kong, January 9, 2024 /Mainstream Community/ -- Atlinks Group LimitedAtlinks” or”incorporation”) and its subsidiaries (collectively, the “Group”, share no.: 8043.HK), announced on January 2 this year that the Group entered into a purchase and sale agreement to acquire Five Generation Health Limited (“5Gen Care Limited”) and Five Generation Health Online Limited (“5GenCare.com Limited”) (collectively “5GenCare.com Limited”) (collectively “”Fifth Generation Health” or”5Gen Care”) of 100% issued share capital, including Chillax Care Limited and Chillax Technology Limited (collectively referred to as “Chillax Care Limited”)Pretty Time” or”Chillax”) All issued share capital.
AtlinksMr. Tang Chi-hai, Chief Executive OfficerHe said: “We are very excited about these two acquisitions, which are in line with the Group's strategic objectives for the development of technological innovation. The move will bring the Group a comprehensive innovation to develop into a one-stop software and smart device development company focused on Artificial Intelligence (AI) and Video Internet of Things (IoVT). With 5Gen Care's R&D capabilities in areas such as artificial intelligence (AI), video Internet of Things (IoVT), end-to-end solutions and software development, this will greatly expand the Group's product line, from the development of telecom and senior products to the North American market for smart baby video streaming monitors, which is expected to be consolidated. Uniting to explore new sources of long-term growth.”
The acquired companies 5Gen Care and 5GenCare.com Limited were established between 2020 and 2002. They are software developers that provide a comprehensive, stable, secure, and end-to-end solution for Video Internet of Things (IoVT), which enables electronic devices to connect to the Internet and connect to built-in mobile applications Remote monitoring. END-TO-END SOLUTIONS INCLUDE FIRMWARE, CLOUD-CONNECTED SOFTWARE AND APPLICATION SOFTWARE DEVELOPMENT SERVICES, AND THEIR SALES OF UDID (DEVICE UNIQUE IDENTIFIER) TO EACH ELECTRONIC DEVICE, WHILE PROVIDING RELATED SERVICES. Currently, 5Gen Care serves customers across a wide range of multinational brands, its solutions are installed on hundreds of thousands of devices worldwide, and its recent introduction of a paid user subscription model has been an initial success.
Another acquisition company, Chillax and its group companies, was established in Hong Kong between 2021 and 2022. Its main business is to sell own-brand “Chillax” video baby monitor devices to mobile devices in the North American market.
Upon completion of the acquisition, 5Gen Care and Chillax and their related group companies will become indirect wholly owned subsidiaries of Atlinks.
THE GROUP BELIEVES THAT THE ACQUISITION WILL TRANSFORM THE GROUP AND INTENSIFY ITS IMPACT ON THE MARKET, PROVIDE A VARIETY OF PRODUCTS AND SERVICES AND ACCELERATE INNOVATION. The Group expects that the strategic integration will not only strengthen its existing market position, but also open up new sources of growth and broaden its customer base.
On a commercial level, the Group will further grow and introduce valuable assets through the acquisitions of 5Gen Care and Chillax. 5Gen Care develops reliable, secure iOVT software and has a technically skilled R&D team in Hong Kong and Vietnam. 5Gen Care's software is widely used in many countries, and its new paid subscription service has gained popularity. Chillax's smart baby video streaming monitor products are a perfect fit with the Group's existing product roadmap, and its strong online sales will help the Group further expand its online business. At the same time, the Group will use its retail advantages to boost Chillax's sales. With Chillax's operations primarily in the United States and the Group's sales network primarily in Europe, the acquisition is a smart move to expand its business into new markets.
From an operational perspective, the Group expects to achieve higher cost efficiencies and operational efficiencies through Atlinks' strong production and logistics capabilities. The strategic integration is expected to reduce Chillax production costs and improve overall efficiency, ultimately increasing profitability.
At the technical level, the integration of the R&D teams of the two companies will accelerate innovation and adaptability. The collaboration aims to develop cost-effective solutions and increase flexibility to better meet the needs of the infant and elderly care markets. The combination of expertise and resources is expected to lead to a faster innovation cycle, a better product offering and enhanced adaptability to market changes.
Mr. TangIt added: “Looking ahead, the Group looks forward to enriching our product line by leveraging R&D technologies to apply AI and the IoT to other areas to enrich our product line, particularly smart devices in the elderly and infant care market. “Our mission is to develop innovative smart video streaming products that combine advanced features, durability, reliability, security, and value for money to enhance the public's quality of life through a widely used process.”
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respectingThe Atlinks Group Limited
The Group is primarily engaged in the design and development of home and office telecommunications products for the three brands Alcatel, Swissvoice and Amplicomms, and sells them worldwide (except North America). The Group was listed on the Startup Board of the Hong Kong Stock Exchange (Stock Code: 8043.HK) on 19 January 2018.