Gorilla Technology and Lanner Electronics Inc. Announce Joint Venture to Manufacture Gorilla's Next Generation Security Convergence Appliances in Thailand
Rhea-AI Summary
Gorilla Technology Group Inc. (NASDAQ: GRRR) has announced a joint venture with Lanner Electronics to manufacture Gorilla's Next Generation Security Convergence appliances in Thailand. This venture follows their recent MOU and will introduce a new line of AI-enabled cybersecurity products at Lanner's existing facility in Thailand.
The product line will feature three distinct SKUs: entry-level, mid-range, and high-performance models, catering to various customer segments. This initiative aims to enhance production efficiency, quality, and scalability while strengthening Gorilla's regional presence and addressing global customer demands.
The partnership is expected to position both companies as leaders in delivering next-generation Customer Premise Equipment (CPE) and innovative appliances, reinforcing their commitment to driving technological advancements globally.
Positive
- Joint venture with Lanner Electronics to manufacture AI-enabled cybersecurity products
- Expansion of production capabilities in Thailand
- Introduction of three new product SKUs catering to different market segments
- Potential for increased production efficiency, quality, and scalability
- Strengthening of regional presence and ability to address global customer demands
Negative
- None.
News Market Reaction
On the day this news was published, GRRR gained 3.22%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
London, United Kingdom--(Newsfile Corp. - September 9, 2024) - Gorilla Technology Group Inc. (NASDAQ: GRRR) ("Gorilla" or the "Company"), today announced a ground-breaking joint venture agreement with Lanner Electronics, set to manufacture Gorilla's Next Generation Security Convergence appliances in Thailand.
The joint venture between Lanner and Gorilla, following their recent MOU, represents a significant enhancement within Lanner's existing facility in Thailand. This development introduces a new line of Artificial Intelligence (AI)-enabled cybersecurity products, tailored to meet the growing needs of global organizations. With a focus on localization, Gorilla aims to strengthen its regional presence while addressing diverse customer demands globally.
Gorilla CEO & Chairman, Jay Chandan and Senior Sales Manager of Lanner, Jackie Wang
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The new product line will feature three distinct SKUs- entry-level, mid-range, and high-performance models catering to various customer segments. This initiative will enable both companies to lead in delivering next-generation Customer Premise Equipment (CPE) and innovative appliances, enhancing production efficiency, quality, and scalability, and reinforcing their commitment to driving technological advancements on a global scale.
Gorilla & key members of the manufacturing facility in Thailand
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"This venture embodies our shared vision of excellence, innovation, and a commitment to driving technological advancement on a global scale. We're proud and excited to join forces with Lanner, who we've already forged a strategic partnership with to develop AI-enabled cybersecurity products in MENA (Middle East and North Africa)," said Jay Chandan, CEO & Chairman of Gorilla Technology.
"Partnering with Gorilla Technology allows us to merge our strengths and deliver cutting-edge solutions that meet the evolving needs of the market. We are excited to contribute our manufacturing expertise to this venture and look forward to pushing the boundaries of what is possible in network appliances and CPE," said Jackie Wang, Senior Sales Manager at Lanner.
About Gorilla Technology Group Inc.
Headquartered in London U.K., Gorilla is a global solution provider in Security Intelligence, Network Intelligence, Business Intelligence and IoT technology. We provide a wide range of solutions, including, Smart City, Network, Video, Security Convergence and IoT, across select verticals of Government & Public Services, Manufacturing, Telecom, Retail, Transportation & Logistics, Healthcare and Education, by using AI and Deep Learning Technologies.
Our expertise lies in revolutionizing urban operations, bolstering security and enhancing resilience. We deliver pioneering products that harness the power of AI in intelligent video surveillance, facial recognition, license plate recognition, edge computing, post-event analytics and advanced cybersecurity technologies. By integrating these AI-driven technologies, we empower Smart Cities to enhance efficiency, safety and cybersecurity measures, ultimately improving the quality of life for residents.
For more information, please visit our website: Gorilla-Technology.com.
About Lanner Inc.
Founded in 1986, Lanner Electronics Inc. has established itself as a global leader in the design and manufacturing of advanced network appliances and rugged industrial computers. Headquartered in Taipei, Taiwan, with offices worldwide, Lanner is at the forefront of developing integrated hardware solutions for a variety of market sectors, including network security, virtualization, cloud computing, and industrial automation.
At Lanner, we are driven by innovation, quality, and an unwavering commitment to customer satisfaction. Our extensive product line ranges from embedded motherboards and network appliances to data storage and security devices, all engineered with precision to meet the highest standards of reliability and performance.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Gorilla's actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "might" and "continues," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, statements regarding our beliefs about future revenues, our ability to attract the attention of customers and investors alike, our expectations to swing to profit in the quarters ahead, Gorilla's strategic shift to enable it to pursue larger projects with better revenue visibility, Gorilla's largest projects and ability to win additional projects and execute definitive contracts related thereto, along with those other risks described under the heading "Risk Factors" in the Form 20-F Gorilla filed with the Securities and Exchange Commission (the "SEC") on May 15, 2024 and those that are included in any of Gorilla's future filings with the SEC. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results. Most of these factors are outside of the control of Gorilla and are difficult to predict. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Gorilla undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.
Investor Relations Contact:
Dave Gentry
RedChip Companies, Inc.
1-407-644-4256
GRRR@redchip.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/222427
FAQ
What is the purpose of Gorilla Technology's joint venture with Lanner Electronics?
How many new product SKUs will Gorilla Technology (GRRR) introduce through this joint venture?
Where will the new AI-enabled cybersecurity products be manufactured?
What are the expected benefits of this joint venture for Gorilla Technology (GRRR)?
