Gorilla Technology Group, Inc. (NASDAQ: GRRR) is a Taiwan-based global artificial intelligence company, which is focused on providing global services such as security intelligence, network intelligence, business intelligence and Internet of Things. Shares of the AI services provider are rallying 41% through early trading on Thursday, January 19, 2023. Over the past three months, Gorilla Technology has seen average daily volume of 172,440 shares. However, volume of 2.12 million shares or dollar volume of around $16.71 million, has already exchanged hands through early trading.
Shares of Gorilla Technology are gaining after the company announced it has completed the asset acquisition of SeeQuestor, a global video analytics technology company, which was first disclosed by the company back on November 3, 2022. The asset acquisition allows Gorilla to offer more integrated services and obtain further competitive advantages. Gorilla Technology acquired SeeQuestor’s assets in an all-stock transaction.
SeeQuestor’s AI-based video analytics solutions are designed to help improve security and safety. Combined with Gorilla Technology’s edge AI real-time data capture and analysis, the technology company can now compete with larger vendors more effectively, as its integrated services expand.
“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.
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