Global Technical Group (“GTS”), the Romanian software developer for the security industry, backed by Abris Capital Partners (“Abris”), has just acquired Lummetry. AI, a Romanian artificial intelligence company. The transaction, finalized on September 15, will further strengthen GTS ‘position as the market leader in software solutions for physical security automation.
GTS was founded in 2007 and consists of two divisions providing software solutions for the security industry, including advanced IoT solutions, building technologies, engineering, automation and energy efficiency, management of installations and technical maintenance. GTS is one of the largest players in this sector in Romania, counting among its clients most of the largest banks, oil companies, shopping centers, retail chains and international manufacturing and distribution companies.
Abris invested in the company in 2019 with the aim of accelerating the innovation process and paving the way for international expansion.
Adrian Stanculescu , Partner at Abris, commented:
“The acquisition of Lummetry.AI is a remarkable step forward in the growth of GTS. The company has already experienced an impressive CAGR of almost 50% over the past five years and we expect to continue to achieve double-digit revenue growth over the next five years. The combination of these two teams will allow us to further improve our offer to customers and strengthen our position as market leader. ”
Lummetry.AI offers solutions that work as AI ‘engines’, that integrate with existing IT tools, security and video surveillance infrastructure, transforming platforms into solutions capable of automatically handling multiple streams. video and large amounts of data.
The company will enrich GTS by providing tools for the development, implementation and maintenance of software platforms dedicated to the management of security systems, as well as a history of successful projects and a team with an advanced level of expertise in the field of AI.
Mihai Stănescu, Founder and CEO of GTS, added:
“GTS stands out for its ability to develop and integrate different areas of the IoT industry. Over the past two years, alongside Lummetry.AI, we have accelerated the integration of AI algorithms into everything we do, bringing tremendous benefit to customers, who can benefit from even cutting-edge technology. if the platforms used were not originally designed to be monitored with sophisticated software. As part of the value creation process, Abris has promoted the professionalization of the company, while developing it significantly with our management team. ”
Following the acquisition, GTS will continue to invest in the research and development of Lummetry.AI’s AI engines. In addition, GTS is preparing to launch a new software platform for monitoring and managing security systems that will include integrated AI-based modules such as perimeter breach, people counting, identification of the presence of people, thermal images and crowd detection. The company is also preparing for international expansion, starting in 2022, to leverage its strong IoT and AI solutions.
Paweł Gierynski, Managing Partner of Abris Capital, commented:
At Abris , we remain committed to our strategy of transforming local players into regional champions. During the pandemic, we have seen that digitization and the transition to cloud services has accelerated in most industries. So I am extremely proud that our Romanian holding company is on track to become the leading technology-driven service and security integrator in Central Europe . We look forward to supporting the group to strengthen its position in the market. ”
For more such updates follow us on Google News ITsecuritywire News.