(Yicai Global) Oct. 19 -- Shenzhen H&T Intelligent Control Co. [SHE:002402] will cooperate with the Zhejiang branch of China Telecom Corp., a leading state-owned telecommunications carrier in China, in Internet of Things (IOT) and Big Data technology development.
The pair entered into a partnership agreement yesterday, the public company said in a statement outed at noon today.
They will collaboratively develop an IOT platform development strategy and a Big-Data-based "future industry and business model," per the statement.
The partnership involves building IOT and Big Data laboratories, a professional "IOT intelligence+research" institute and an industry demonstration base, as well as joint capital operations, the statement recites.
The pair will also kick off collaborations in the IOT Smart Home market, stimulate cross-industry cooperation based on the IOT platform between public service providers, government agencies and traditional businesses, and promote the Narrow Band Internet of Things (NB-IOT) technology and products, it asserted.
The deal will help H&T Intelligent Control become a major and leading player in the IOT, Big Data and artificial intelligence (AI) technology industries, the statement noted.