Gorilla Technology Group Inc., a global provider of AI based edge video analytics, IoT technologies, and cybersecurity, today announced that a government agency of a Middle Eastern country developing Smart Cities has communicated its intent to engage Gorilla to implement an expansive cybersecurity solution for one or more cities under development. Gorilla is negotiating final details, and expects to execute a contract and begin implementation in the first half of 2023. The anticipated project is a strong addition to the Company’s 2023 revenue forecast.
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This deal represents Gorilla’s first customer win in a new market as part of its recently launched globalization strategy targeting Europe, the Middle East and North Africa. The deal advances Gorilla’s strategy to become a global leader in AI based cybersecurity and video analytics while expanding their geographical footprint embracing the MENA region.
“This opportunity moves Gorilla up the value chain in the cybersecurity market to become one of the leading global providers of advanced AI-based cybersecurity solutions & analytics. We see increasing global demand in cybersecurity and surveillance with government infrastructure spending and smart city growth. In terms of on-going business growth in the MENA region, we plan to aggressively pursue opportunities to develop safe cities on the foundation of our security convergence portfolio. Our globalization effort is taking flight with this strategically important entry in the market,” said Jay Chandan, Chairman and CEO of Gorilla. “We have made tremendous strides in 2022 in our globalization strategy and are excited by our momentum as we head into the new year with strong pipeline for 2023.”
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Other 2022 highlights for Gorilla include:
- Becoming a publicly listed company on Nasdaq via a merger with Global SPAC Partners in July
- Appointing Executive Chairman Jay Chandan to CEO, following the retirement of founder Dr. Spincer Koh, to lead the company during its next phase of growth
- Advancing its strategy to become a global leader in advanced AI video analytics and security convergence solutions through planned acquisitions of complementary technologies.
- Strengthening its executive leadership with the appointments of Daphne Huang as Chief Financial Officer, Dr. Rajesh Natarajan as Chief Innovation Officer, Hee-Won Choi as Global Head of HR and industry veteran Max Lin as General Manager, Taiwan.