Taoping To Acquire Skyladder Group

(RTTNews) - Taoping Inc. (TAOP), a provider of innovative smart cloud platform services and solutions, on Tuesday signed a share purchase agreement to acquire Skyladder Group Ltd. for about RMB 152 million or 21.36 million.

Upon completion, Taoping will wholly own Skyladder Group and plans to integrate its resources with Skyladder's technology and channels to accelerate its smart elevator services and strengthen its IoT strategy.

The purchase price will be paid in Taoping ordinary shares.

The company said that with performance-based targets, including Skyladder Group, achieving revenue of RMB 74.14 million and net profit of RMB 3.80 million in 2026. Revenue of RMB 101.98 million and net profit of RMB 7.74 million in 2027. And revenue of RMB 135.06 million and net profit of RMB 14.90 million in 2028 and revenue of RMB 180.66 million and net profit of RMB 22.14 million in 2029.

Skyladder Group, through its wholly owned operating entities in China, specializes in AI-powered smart elevator services, providing solutions across the entire elevator lifecycle, including sales, installation, repair, maintenance, renovation, and upgrades.

In the pre-market trading, 11.2682% lesser at $2.6797 on the Nasdaq.