- SeeQuestor enhances Gorilla’s present expertise choices; strengthens place in enhanced edge AI expertise that transforms knowledge into actionable intelligence
- Creates extra entry to new markets in Europe, the Middle East, and North America
TAIPEI, Taiwan and NEW YORK, Nov. 03, 2022 (GLOBE NEWSWIRE) — Gorilla Technology Group Inc. (“Gorilla”) (NASDAQ: GRRR), a worldwide supplier of AI based mostly edge video analytics, IoT applied sciences, and cybersecurity, has agreed phrases for the acquisition of SeeQuestor Limited (“SeeQuestor”), a worldwide supplier of video analytics expertise. The all-stock transaction is topic to customary completion circumstances, regulatory approvals, and a majority approval from SeeQuestor’s shareholders. The acquisition advances Gorilla’s technique to change into a worldwide chief in superior AI video analytics for safety and surveillance with unequalled capabilities, a robust product portfolio and a stable pipeline.
Formed in 2014 as a supplier of automated video post-event evaluation supporting home police investigations, U.Ok.-based SeeQuestor has developed superior video analytics expertise. SeeQuestor’s world consumer base spans the U.Ok., Canada, the Middle East and South-East Asia. SeeQuestor’s flagship real-time video analytics product allows regulation enforcement businesses and safety corporations to routinely monitor hundreds of cameras in a single unified platform. Their answer helps establish faces, our bodies, threats, objects and automobiles and sends real-time alerts enabling safety and surveillance corporations to scale back their turnaround time and supply a safer setting.
The acquisition strikes Gorilla up the worth chain within the video analytics market to change into one of many main world suppliers of superior AI-based video analytics options for improved safety and security. SeeQuestor’s expertise enhances Gorilla’s edge AI actual time knowledge seize and evaluation. The mixed firm can provide extra built-in providers and thus higher compete towards bigger distributors.
“This acquisition perfectly aligns with our strategy and vision, as SeeQuestor is an exciting addition to our existing technology portfolio. With extensive expertise and advanced video analytics technology, SeeQuestor will further enhance our AI analytics and security convergence solutions. Their technological know-how and uniqueness have allowed it to develop highly innovative and competitive solutions for their clients,” mentioned Gorilla Chairman & CEO, Jay Chandan. “We believe SeeQuestor’s strong technology team and product offering will help us to compete more effectively against larger global providers. This deal takes us one step closer to becoming the platform service provider of choice, for edge AI and IT/OT Security Convergence.”
“Our Board unanimously supports this transaction” says Scott Eaton, Chairman of SeeQuestor. “It represents a fabulous opportunity for the team, and it is a great outcome for shareholders.”
Thibaud Weick, CEO of SeeQuestor, mentioned, “This announcement marks the beginning of a new and exciting chapter for SeeQuestor. We will be even better positioned to accelerate product development and expand our offering for the benefit of the broader market, now that we are part of a leading-edge AI security technology provider that is publicly traded on a major U.S. stock exchange.”
About Gorilla Technologies Group Inc.
Gorilla, headquartered in Taipei, Taiwan, is a worldwide answer supplier in safety intelligence, community intelligence, business intelligence and IoT expertise. Gorilla develops a variety of options together with Smart Cities, Smart Retail, Enterprise Security, and Smart Media. In addition, Gorilla supplies an entire Security Convergence Platform to authorities establishments, telecom corporations and personal enterprises with community surveillance and cyber safety.
Gorilla locations an emphasis on providing main expertise, professional service, and exact supply, and making certain top-of-the-line, clever and powerful edge AI options that allow purchasers to enhance operational efficiency and effectivity. With steady core expertise improvement, Gorilla will ship edge AI options to managed service suppliers, distributors, system integrators, and {hardware} producers.
Gorilla-Technology.com
About SeeQuestor Limited
SeeQuestor Limited, headquartered in London, U.Ok., is a worldwide chief in video analytics and harnesses world-leading AI expertise and super-computing energy to flip terabytes of CCTV video into actionable intelligence. iCCTV, SeeQuestor’s flagship real-time product, permits automated monitoring of hundreds of cameras in a single unified platform for performing unified multi analytics.
seequestor.com
Important Information and Where to Find It
This press launch doesn’t represent a suggestion to promote or trade, or the solicitation of a suggestion to purchase or trade, any securities, nor shall there be any sale of securities in any jurisdiction through which such provide, sale or trade could be illegal prior to registration or qualification underneath the securities legal guidelines of any such jurisdiction.
Forward-Looking Statements
This press launch comprises forward-looking statements, that are based mostly on estimates, assumptions, and expectations. Actual outcomes and efficiency might differ materially and adversely from these expressed or implied in forward-looking statements. Gorilla doesn’t undertake any obligation to replace any forward-looking statements, besides as required by regulation.
Contacts
Gorilla Technologies Group, Inc.
Peter Wright
+1-617-454-1088
[email protected]
SeeQuestor Limited
Thibaud Weick
+44-153-165-1237
[email protected]
