GBT Technologies Inc., announced today that GBT Tokenize Corp., a subsidiary that is owned 50% by the Company entered into an Asset Purchase Agreement (APA) with Trend Innovation Holdings, Inc. (TREN), as consented to by GBT, pursuant to which Seller sold certain assets relating to proprietary system and method named Avant! Ai, which is a text-generation, deep learning self-training model.
Avant! AI is designed to provide businesses and consumers with a natural language interface to interact with their devices and systems. The technology utilizes machine learning and natural language processing (NLP) to interpret and respond to user requests.
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TREN, Seller and GBT entered into a license agreement regarding the System, granting the Seller and/or the Company a perpetual, irrevocable, non-exclusive, non-transferable license for using the System to be used in its own development, as in-house tool, where Seller/Company may not sublicense its rights hereunder to any customer or client.
GBT is continuing to focus on its core competency of researching and developing (“R&D”) a targeted technology IP portfolio combining patents, trade secrets and prototypes. As such, the Company will technically support TREN with the implementation of the System with the goal of empowering other technology platforms they own.
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The Company will provide an update covering its IP technology portfolio in a separate press release.
“Selling Avant! Ai to a third party and retaining a license for internal purposes strengthens and encourages our belief that we can position ourselves as an IP Company,” stated Mansour Khatib, the Company’s CEO.
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