Gridsum Holding Inc. (“Gridsum” or the “Company”) (NASDAQ: GSUM), a leading provider of cloud-based big-data analytics and artificial intelligence (“AI”) solutions in China, today announced that it has signed a strategic cooperation framework agreement with Bee® China (“Bee®“), an energy and facility systems consulting and service firm that offers resource efficiency assessment, intelligence and solutions, to jointly develop and implement optimal operation and management strategies in various energy systems, smart campuses and industrial plants.
According to the terms of the strategic cooperation framework agreement, Gridsum and Bee® will leverage each of their competitive strengths to develop Industrial Internet of Things (“IIoT”) solutions that promote and facilitate energy conservation, emission reduction, big data provision, cloud and fog computation and automation platforms, and modernize/optimize resource management for China’s private and public sectors.
Mr. Guosheng Qi, Chief Executive Officer of Gridsum, commented, “I eagerly look forward to working closely with Bee®on developing IIoT solutions that will leverage our deep experience in cloud-based big-data analytics and extensive AI capabilities. This agreement marks another milestone in our IIoT development. It not only grows our presence in China’sIIoT space following our agreement late last year to jointly develop an IIoT cloud platform with Shandong Province and other IIoT engagements, but also demonstrates our effectiveness and strategy to leverage our core technology competence to build highly scalable big data analytics and AI solutions that can be customized and applied in a number of different areas. Both Bee® and Gridsum share similar philosophies and visions which I believe when combined with our respective technology capabilities, will greatly benefit China’s drive to conserve energy and reduce emissions.”