Announcement of Memorandum of Understanding for a Business Alliance of 5G/AI Related Businesses

2020-10-05 14:30 2233

TOKYO, Oct. 5, 2020 /PRNewswire/ -- Bit One Group Co., Ltd. (hereinafter referred to as "the Company" has a business alliance (hereinafter referred to as "this business alliance") with Viettel Business Solutions Corporation (hereinafter referred to as "Viettel BS") for businesses related to the integration of 5G and AI technology (hereinafter referred to as "5G/ AI-related businesses"). Bit One Group is pleased to announce that the Company has signed a memorandum of understanding (hereinafter referred to as "this memorandum") for starting negotiations and discussions to conclude the agreement (hereinafter referred to as "this business alliance agreement").

1.          Purpose of this Memorandum

As stated in the "Financial Results for the Fiscal Year Ending February 2020 (Japanese Standard)" released on the April 10, the Group will implement 5G/ AI-related businesses for the current fiscal year (1st March 2020 - 28th February 2021) as a new management policy. Bit One Group has stated that the Company will do the best to launch it during the period.

Under such circumstances, the Company has signed this memorandum of understanding with Viettel BS, a branch of Viettel Telecom Group (Vietnam Communication), in order to enter into negotiations and discussions regarding this business alliance.

2.          Details of this Business Alliance

Viettel BS and Bit One Group will be involved in (i) sales of communication equipment, design and implementation of applying AI to telecommunications networks; (ii) smart city construction – 5G and AI-based online (IoT) services; (iii) distribution of IoT equipment; (iv) trading of data and voice business; (v) the Company plans to form a business alliance for various 5G/AI-related businesses that the Company aims to lunch, such as construction and operation of Internet data centers, etc. The details of this business alliance will be negotiated between the parties and a legally binding business alliance agreement will be concluded.

3.          Viettel BS Overview

1. Name

Viettel Business Solutions Corporation – Branch of Viettel Telecom

2. Location

No.1 Tran Huu Duc street, My Dinh 2 ward, Nam Tu Liem District,
Hanoi, Vietnam

3. Title and Name of

Director Nguyen Manh Ho

4.Business Description

B2B ICT(Information and Communication Technology)solution business

4.          Schedule

The Company and Viettel BS will discuss with each other to reach an agreement on the detailed terms of this business alliance promptly after this memorandum.

[Bit One Group Co., Ltd. Company Profile]

  • Company Name: Bit One Group Co., Ltd. (TSE Second Section Code No. 2338)
  • Location: 1-10-9 Kudankita, Chiyoda-ku, Tokyo
  • Representative: Representative Director Shao Yun
  • Initial Capital: 2,497,110,000 yen
  • Business: Content Development and Distribution
  • Description: Software Contract Development
  • Company URL:

Source: BitOne Group Company Limited