Powerbridge Technologies Co Ltd (NASDAQ:PBTS) is a unique company that provides technology solutions to a range of industries. For instance, it offers platform applications and software on the one hand while it also offers intelligent devices and Internet of Things platform services on the other. The company is also involved in providing crypto mining services, metaverse services, digital services, and cryptocurrency asset operations among others.
The company announced earlier in the month that it had been successful in completing the acquisition of a 90% stake in Ascendent Insights Education Co Ltd or Aledu. It is an artificial intelligence-powered education company. The decision to acquire the 90% stake in Aledu is part of Powerbridge Technologies’ larger strategy of further expanding its footprint in the education industry. To that end, the company is looking to take advantage of the expertise possessed by Aledu to improve its education offerings.
One of the more important outcomes of the acquisition would be that Powerbridge Technologies would be able to add ChatGPT to its current education products. The company’s education business remains one of the major sources of revenues for Powerbridge Technologies and the latest acquisition could further help in boosting that in the long term.
The company believes that ChatGPT integration would help it expand its market, create a bigger user base and also increase its revenue streams. The company’s Chief Executive Officer Stewart Lor noted that the acquisition was an exciting step forward for Powerbridge Technologies.