Gorilla Technology Group Completes Asset Acquisition of SeeQuestor

Rhea-AI Summary

Gorilla Technology Group (NASDAQ: GRRR) announces the successful acquisition of SeeQuestor Limited, enhancing its video analytics capabilities. This merger accelerates Gorilla's delivery of hybrid video analytics at the edge, providing a significant competitive advantage. The integration will enable Gorilla to offer a comprehensive product suite to public and private sector clients, while also expanding its market reach in Europe, the Middle East, and North America. CEO Jay Chandan emphasized that this acquisition aligns with the company's mission to develop smarter, safer societies through advanced video analytics technology.

Positive

• Acquisition of SeeQuestor strengthens Gorilla's video analytics capabilities.
• Provides access to new markets in Europe, the Middle East, and North America.
• Enables offering of integrated services to enhance competitive edge.

Negative

• None.

Acquisition enriches Gorilla’s solution capabilities and elevates its industrial position

TAIPEI, Taiwan and NEW YORK, Jan. 18, 2023 (GLOBE NEWSWIRE) -- Gorilla Technology Group Inc. (“Gorilla”) (NASDAQ: GRRR), a global provider of AI based edge video analytics, IoT technologies, and cybersecurity, today announced it has completed the acquisition of the tech stack of SeeQuestor Limited (“SeeQuestor”), a global provider of video analytics technology.

The completion of this strategic and highly complementary acquisition of SeeQuestor’s technology will accelerate the delivery of hybrid video analytics at the edge across the industry and enable Gorilla to offer more integrated services and thus obtain stronger competitive advantage.

“The acquisition brings together SeeQuestor’s best-in-class real-time and post-event analytics and Gorilla’s own capabilities. Our customers, both in the public and private sectors, can benefit from a more holistic product offering available both on cloud and on premise,” said Jay Chandan, Chairman and CEO of Gorilla. “We believe SeeQuestor’s technology will allow us to provide a more cost-effective, one-stop solution to our customers along the path of their digital transformation. Moreover, it offers us an immediate gateway to new markets in Europe, the Middle East, and North America, which will be crucial to our global expansion efforts. I am incredibly pleased with the addition of the SeeQuestor technology to our platform.

“As both Gorilla and SeeQuestor are striving to achieve the mission of building a safer and smarter society empowered by top-notch video analytics solutions, we believe this acquisition will help Gorilla integrate additional supply chain capabilities to suit the demand of a larger customer base by delivering more comprehensive solutions,” Chandan added.

About Gorilla Technology Group Inc.

Gorilla, headquartered in Taipei, Taiwan, is a global solution provider in security intelligence, network intelligence, business intelligence and IoT technology. Gorilla develops a wide range of solutions including Smart Cities, Smart Retail, Enterprise Security, and Smart Media. In addition, Gorilla provides a complete Security Convergence Platform to government institutions, telecom companies and private enterprises with network surveillance and cyber security.

Gorilla places an emphasis on offering leading technology, expert service, and precise delivery, and ensuring top-of-the-line, intelligent and strong edge AI solutions that enable clients to improve operational performance and efficiency. With continuous core technology development, Gorilla will deliver edge AI solutions to managed service providers, distributors, system integrators, and hardware manufacturers.

Gorilla-Technology.com

About SeeQuestor Limited

SeeQuestor Limited, headquartered in London, U.K., is a global leader in video analytics and harnesses world-leading AI technology and super-computing power to turn terabytes of CCTV video into actionable intelligence. iCCTV, SeeQuestor’s flagship real-time product, allows automatic monitoring of thousands of cameras in one unified platform for performing unified multi analytics.

seequestor.com

Important Information and Where to Find It

This press release does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Forward-Looking Statements

This press release contains forward-looking statements, which are based on estimates, assumptions, and expectations. Actual results and performance could differ materially and adversely from those expressed or implied in forward-looking statements. Gorilla does not undertake any obligation to update any forward-looking statements, except as required by law.

Contact:
Jeff Fox
The Blueshirt Group for Gorilla
415-828-8298
jeff@blueshirtgroup.com

FAQ

What is the purpose of Gorilla's acquisition of SeeQuestor Limited?

The acquisition aims to enhance Gorilla's video analytics capabilities and expand its market reach.

What are the expected impacts of the SeeQuestor acquisition on Gorilla Technology Group?

The acquisition is expected to accelerate Gorilla's delivery of hybrid video analytics and provide a more comprehensive solution to its customers.

When was the acquisition of SeeQuestor by Gorilla completed?

The acquisition was completed on January 18, 2023.

What competitive advantages does Gorilla gain from acquiring SeeQuestor?

Gorilla gains a stronger competitive edge by integrating SeeQuestor's technology, enabling a holistic product offering in video analytics.

What sectors will benefit from the acquisition of SeeQuestor by Gorilla?

Both public and private sectors will benefit from Gorilla's enhanced video analytics solutions post-acquisition.