Luokung Launches Map Cloud Service With eMapgo
Luokung Technology Corp. (Nasdaq: LKCO) announced the launch of its map cloud service by its newly acquired eMapgo Technologies Co. Ltd.
The Beijing-based company, which provides location services, said this week that its new map cloud platform will distribute map services to enterprises and act as a neutral map maker. Luokung has acquired eMapgo last month for $119 million at the conversion rate of $7 per share.
Luokung uses cloud indexing technology including HD map, 3D map, internet application map, satellite remote sensing data and real-time trajectory.
eMapgo has obtained quality management system certificates of ISO90001, ISO/TS169, and CMMI3, while its map database expands through mainland China, Hong Kong and Macao.
Luokung's new map cloud platform provides several functions that include customized map presentation styles, multiple ways of query and search, multiple routing plans, field navigation and customized map editing, according to the report. The map cloud platform also contains "highly customized" customer-centric solutions, and implementation of Luokung's SuperEngine to help commercialize the service, it said in a statement.
The mobile mapping market is expected to reach $37.4 billion by 2023, according to a market research report by Market Research Future.
Recently, Luokung announced a partnership with one of the largest international media groups, People Daily Online, to help develop news maps.
Luokung's stock closed 4 percent lower on Wednesday, at $6.05 per share.
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