This past Friday Tanke Biosciences Corp (OTCMKTS:TNBI) was in focus after the company announced that it had been successful in completing the acquisition of the energy monitoring operations and assets from KalimahUnipessol LDA. Kalimah is a Portuguese company and the acquisition was completed in a deal involving both restricted stock and cash.
Tanke Biosciences Corp completes acquisition of Energy Monitoring Operations
The assets that the company acquired are deployed for the monitoring of energy consumption at commercial buildings. The assets deploy the use of artificial intelligence, big data, and the internet of things for monitoring. The monitoring is generally carried out at such establishments as quick service, multi-site commercials, manufacturing facilities, hotels, educational establishments and food retail.
The president of Tanke Biosciences Steve Mills spoke about the latest development as well. He noted that the company had set up its energy management subsidiary unit with the aim of growing and acquiring such companies which use cutting-edge technology. It was a major new acquisition for the company and it is now going to be interesting to see if the latest acquisition brings the Tanke Biosciences stock on to the radars of investors or not. It may be a good idea for investors to keep an eye on it today.