Gorilla Technology Group Ord Shs - GRRR STOCK NEWS

Gorilla Technology Group has announced a strategic relationship with British Telecom (BT) to deliver a Container Identification and Container Damage Detection solution. The solution combines Gorilla's video analytics expertise with BT's network infrastructure to address the needs of the logistics industry. It leverages AI and machine learning algorithms to identify containers, track movements, and detect damage or tampering. The solution is being deployed at the Port of Tyne in the UK.

Gorilla Technology Group Inc. has announced the opening of its new office in Chennai, India. The office will serve as the base for Gorilla's Indian operations and will focus on research, product customization, implementation, and solutions services. The company plans to grow the team and make it a global center of excellence. The expansion represents a significant milestone in Gorilla's growth strategy and will enable them to tap into the local talent pool and provide cutting-edge technology solutions to clients worldwide.

Gorilla Technology Group (NASDAQ: GRRR) provided an update regarding its resale registration statement on Form F-1, effective from March 30, 2023. The Company clarified that this filing will not lead to dilution for existing shareholders unless outstanding options or warrants are exercised. Currently, there are 68,629,774 ordinary shares outstanding, excluding treasury shares. The registration was filed partly for a primary offering related to previously issued contingent value rights (CVRs), which will not increase the total number of ordinary shares. Any shares issued to CVR holders will be offset by the forfeiture of Earnout Shares. Gorilla Technology specializes in various intelligence solutions and emphasizes edge AI technology for improved operational performance.

Gorilla Technology Group Inc. (NASDAQ: GRRR) has appointed Mohan Raj Kumar as the Global Head of Customer Success Alliance, effective April 21, 2023. Kumar brings over 27 years of experience in ICT and networking, and will focus on enhancing customer success and advancing Gorilla's digital transformation goals. His previous roles include significant positions at Cisco and HCL Technologies. Kumar emphasized the importance of innovation in meeting customer needs and aims to foster collaboration within the company.

CEO Jay Chandan welcomed Kumar, praising his leadership qualities and industry success. Gorilla Technology specializes in AI-based edge video analytics, IoT technologies, and cybersecurity, aiming to empower clients with smart solutions in various sectors including Smart Cities and Enterprise Security.

Gorilla Technology Group Inc. (NASDAQ: GRRR) announced a non-binding Letter of Intent to acquire Bacom Internetwork, a leading Thailand-based systems integrator in Smart Cities solutions. This strategic move aims to bolster Gorilla's footprint in Thailand, a market experiencing rapid technological evolution. Bacom has specialized in innovative security technologies since 2011, notably its proprietary Smart Building solution, Apismart. The acquisition is expected to enhance Gorilla's capabilities and facilitate entry into MENA and European markets. Gorilla has initiated due diligence and aims for a purchase agreement within 90 days, with a 60-day exclusivity period in place. The acquisition aligns with Gorilla's global expansion strategy and commitment to technological advancements.