UCLOUDLINK Group INC. Announces Investment decision in iQsim (Open up Digital SIM System Service provider) and alterations to Senior Management Roles
HONG KONG, Feb. 01, 2021 (Globe NEWSWIRE) — UCLOUDLINK Team INC. (“UCLOUDLINK” or the “Company”) (NASDAQ: UCL), the world’s to start with and primary cellular details site visitors sharing marketplace, announced current expenditure in iQsim, the foremost supplier of open digital SIM (VSIM) system and VSIM-enabled mobile equipment centered in France, by means of its Singapore subsidiary uCloudlink (Singapore) Pte. Ltd. (“Singapore UCLOUDLINK”) and UCLOUDLINK’s current adjustments to its senior management roles.
1. UCLOUDLINK’s Financial investment in iQsim
Singapore UCLOUDLINK subscribed to iQsim’s freshly issued common shares, representing about 31% of iQsim’s overall issued and excellent shares. In addition, Hong Kong uCloudlink Community Know-how Restricted (“HK UCLOUDLINK”) and iQsim will have their patents cross licensed.
iQsim’s Digital SIM patented technological know-how allows central SIM playing cards storage in excess of the cloud and on-demand allocation of the SIM cards to mobile devices, which aid sharing SIM playing cards across numerous products and allowing for consumer to use the most suitable SIM card. iQsim also has numerous purposes such as facts roaming for tourists, mobile screening, cell interaction and SIM card provisioning and deployment. By means of the cooperation, iQsim will license its U.S. No. 8,938,232 patent and EP2595444B patent to HK UCLOUDLINK and HK UCLOUDLINK will also license its U.S. 9,548,780 and U.S. 9,432,066 patents to iQsim. Such licenses will be royalty free, thoroughly compensated-up, non-special and non-transferrable.
“We are pleased to have UCLOUDLINK as an investor. This will support us reinforce our situation in Europe for giving data solutions for the 5G and Internet-of-point (IoT) industry. It will aid us make improvements to our solutions and protection for cellular screening methods by leveraging widespread technologies and synergies.” stated Philippe BESSAGUET, CEO and Co-founder of iQsim.
“The strategic financial investment in iQsim is an crucial ingredient of our world wide investment decision which aid us even more increase our organization in Europe a lot quicker and better to deliver remarkable cell details connectivity providers to each carriers and customers.” claimed Chaohui Chen, Director and CEO of UCLOUDLINK. “Leveraging this partnership, we will even further extend our PaaS and SaaS ecosystem with mobile community operators (MNOs) and small business partners in Europe. This cross-licensing cooperation will also enrich synergies of VSIM technological know-how platform and our cloud SIM technological know-how to aid the enhancement of various elements of application such as 5G and IoT answers. The alliance enriches our patented technology and system, new software scenarios and PaaS and SaaS ecosystem, which is integral to our world enlargement to kind a full value circle at serving several small business partners for the duration of the 5G cloud era.”
2. Modifications to Senior Management Roles
UCLOUDLINK declared recent purpose changes for its senior administration. Shubao Pei, at this time Chief R&D Officer, will believe the purpose of Main R&D Officer and Chief Provide Chain Officer. Zhongqi Kuang will no for a longer period believe the part of Main Provide Chain Officer.
These variations took effect on January 27, 2021.
About UCLOUDLINK Group INC.
UCLOUDLINK is the world’s first and foremost cell information visitors sharing marketplace, revolutionary the sharing financial system business design for the telecommunications sector. The Company’s products and solutions and services supply one of a kind benefit propositions to mobile knowledge users, handset and sensible-hardware organizations, mobile digital community operators (MVNOs) and cellular network operators (MNOs). Leveraging its impressive cloud SIM technologies and architecture, the Organization has redefined the mobile details connectivity experience by letting customers to achieve entry to cellular knowledge traffic allowance shared by network operators on its market, when offering reputable connectivity, substantial speeds and aggressive pricing.
For a lot more information, remember to take a look at: https://ir.ucloudlink.com
About iQsim
iQsim is the major service provider of Open up Digital SIM Platform and VSIM enabled mobile equipment. The iQsim’s Digital SIM patented technologies allows central SIM cards storage in the Cloud and on-demand allocation of the SIM playing cards to cellular gadgets. Main positive aspects are to share SIM playing cards throughout various equipment and to always use the most acceptable SIM card. Programs are data roaming for travelers, mobile testing, mobile interaction and mobile knowledge for transportation. The corporation HQ is in Sophia-Antipolis, France.
For more facts, be sure to check out: https://www.iqsim.com
Safe and sound Harbor Assertion
This announcement consists of ahead-wanting statements. These statements are produced less than the “safe harbor” provisions of the U.S. Personal Securities Litigation Reform Act of 1995. These ahead-looking statements can be determined by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and very similar statements. UCLOUDLINK may well also make written or oral ahead-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in push releases and other penned materials and in oral statements designed by its officers, directors or staff members to third get-togethers. Statements that are not historical specifics, which include but not confined to statements about UCLOUDLINK’s beliefs and anticipations, are ahead-wanting statements. Forward hunting statements include inherent pitfalls and uncertainties. A variety of components could bring about genuine benefits to vary materially from these contained in any forward-hunting assertion, which includes but not limited to the next: UCLOUDLINK’s approaches UCLOUDLINK’s long term business development, financial ailment and final results of operations UCLOUDLINK’s skill to increase its consumer foundation and use of its cell knowledge connectivity products and services, and enhance operational effectiveness competitiveness in the world-wide cellular facts connectivity services market improvements in UCLOUDLINK’s revenues, expenses or expenditures governmental policies and regulations relating to the global cell facts connectivity support market, general financial and company situations globally and in China the influence of the COVID-19 pandemic to UCLOUDLINK’s business enterprise functions and the economy in China and elsewhere usually and assumptions underlying or linked to any of the foregoing. More information regarding these and other dangers is bundled in the Company’s filings with the Securities and Exchange Commission. All data provided in this push launch and in the attachments is as of the day of the push release, and UCLOUDLINK undertakes no responsibility to update these kinds of information, other than as expected underneath relevant legislation.
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