| Mon 16 Apr 2018, 11:23 | | 4SIGHT HOLDINGS LIMITED - Voluntary announcement relating to a JV with Shenzhen Rongmei Science and Technology Co Limited |
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4SI 201804160020A
Voluntary announcement relating to a JV with Shenzhen Rongmei Science and Technology Co Limited
4SIGHT HOLDINGS LIMITED
(Incorporated in the Republic of Mauritius)
(Registration number: C148335 C1/GBL)
(“4Sight Holdings” or “the Company”)
ISIN Code: MU0557S00001 JSE Code: 4SI
VOLUNTARY ANNOUNCEMENT RELATING TO A JOINT VENTURE WITH SHENZHEN RONGMEI SCIENCE
AND TECHNOLOGY CO. LIMITED (“RM”)
The board of directors is pleased to announce the signing of a Memorandum of Understanding
with Mr Sun Mao Jin from RM to establish a 50:50 joint venture in China. The 4Sight Holdings
group operates in 25 countries worldwide with 84% of its business and revenue earned from the
EMEA (Europe, Middle East and Africa) region, 15% from the America’s (mostly Latin America)
and only 1% from the Asia Pacific region.
The Group aims to expand its business operations, opportunities and customer footprint in the
underserved Asia Pacific areas with a specific focus on the Chinese market. Of importance to
the Group is that in December 2017, the Chinese Ministry of Industry and Information
Technology published an action plan for the Artificial Intelligence (“AI”) Industry from 2018 to
2020 as a complement to the “Made in China 2025” strategy. The 4Sight board subscribes to
the use and deployment of local teams in the different regions and have recently closed
various contracts in the telecommunications and mining industries in the Asia region, but
decided to investigate a formal joint venture (“JV”) model in the Chinese market. The directors
have been in discussions since early 2017, and signed the Memorandum of Understanding in
Beijing, China on 29 March 2018 to enter and expand the 4Sight business in China through a JV.
Both teams have earmarked a strategy to combine the roles of marketing, sales, operations
and technology delivery through the joint venture which will focus on targeting the industry
sectors of telecommunication, mining and energy. The 4Sight strategy of acquisition and
organic growth will drive the roll-out plan in the country and the key technology capabilities of
the Group to be used will initially focus on:
a. Optimization of telecommunication networks through the application of dynamic tariffing
services for revenue management, and network optimization for active and passive
telecommunication network assets.;
b. Real-time Optimization (RTO) to optimize the efficiency and profitability of mining,
manufacturing and energy provisioning processes;
c. Prescriptive Maintenance to monitor, analyse and instruct planned maintenance actions
on component level for process equipment via Artificial Intelligence agents;
d. Simulation software and services to assist with the redesign and optimization of mining,
manufacturing and energy processes for digitization purposes;
e. Digitization and automation of physical processes through sensors, instrumentation, system
integration, automation and control of manufacturing and mining processes at the plant
floor level, combining hardware from leading manufacturers with world class engineering
capabilities.
f. Cybersecurity of the sensors, both commercial “Internet-of-Things” (IoT) and Industrial IoT
on the Information Technology (IT) and Operational Technology (OT) networks, outside the
network and un-authorised access inside networks;
The above intelligent algorithms and services will be provided by various subsidiaries in the
group, being Digitata DTS, Digitata Networks, BluESP and Age Technologies and co-ordinated
and driven by the Enterprise Project Management team from Sakhu.
RM’s vision is to extend its current industry focus in government and financial services to that of
smart factories, -health and -cities; backed by the Chinese government drive to integrate the
internet, big data and AI in the next few years.
4Sight will enable the JV with its Indutry4.0 know-how, implementation experience and
technology offerings in the selected vertical markets. RM will drive funding of the JV, provide
loan funding, identify local acquisitions and take responsibility for local business development.
Mauritius
16 April 2018
Designated Advisor
Arbor Capital Sponsors Proprietary Limited
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