IP Rights Acquired From Chinese Company By Malaysian IT Firm

IP Rights Acquired From Chinese Company By Malaysian IT Firm

Dataprep Holdings, a provider of IT goods and services in Malaysia, has agreed to pay RM15.5 million (US$3.7 million) to Chinese company Qingdao Xingyun Digital Technology (QXDT) for their intellectual property rights. Dataprep, in a filing with Bursa Malaysia, stated that its technology partner, Zenith City Management Services (Sichuan), has agreed to pay QXDT in full for the acquired intellectual property rights in exchange for sole use of systems in Malaysia, Singapore, Thailand and Indonesia. A digital company that uses AI to transform urban environments, Zenith, specializes in designing and developing smart cities, providing intelligent solutions using real-time data insights and predictive analytics to optimize traffic, improve infrastructure, increase energy efficiency and improve public safety.

The partnership with Zenith, as per Dataprep, will help generate new revenue streams and the rollout of digital infrastructure projects by providing value-added digital services and platforms. The said project entails development and upkeep of underground telecommunications networks like microcell poles, manholes and ducting for fibre-optic installations. Currently being implemented in the Greater Bandung metropolitan region of Indonesia, the system aims to provide connectivity to around 2.76 million people.

QXDT-developed assets include proprietary systems for community service platforms, smart property and Internet of Things (IoT) integration, mall membership platforms, supplier operations, points administration and artificial intelligence-powered digital wellness services; Dataprep observed. AI health agent tools, integrated wellness management and AI-driven health monitoring are also included.