Gorilla Technology Closes 2024 on a High and Enters 2025 with a Bang

Rhea-AI Summary

Gorilla Technology Group (NASDAQ: GRRR) has secured two new contracts in Taiwan to end 2024. The first contract involves deploying an AI-powered lawful interception and criminal investigation platform for law enforcement. The second is a collaboration with a telecom provider to ensure their AI-enhanced Cloud IMS network service meets lawful interception certification requirements.

According to CEO Jay Chandan, these agreements demonstrate Gorilla's capability to deliver strategic solutions in specialized industries. The company enters 2025 with a solid backlog and is positioning itself for growth through 2026, focusing on smart city solutions and security innovations.

Positive

• Secured two new contracts in Taiwan's law enforcement and telecom sectors
• Expanding presence in high-value government and telecommunications markets
• Building backlog for 2025-2026 business pipeline

Negative

• Financial terms and contract values not disclosed
• Timeline for revenue recognition not specified

Insights

Market Research Analyst

The announcement lacks substantial financial details about the two new contracts, making it difficult to quantify their immediate impact on Gorilla's revenue stream. However, the strategic value lies in the company's expansion in two critical sectors: law enforcement and telecommunications. The law enforcement contract particularly stands out as it positions Gorilla in the rapidly growing AI-powered security solutions market, which is projected to reach $17.1 billion by 2025.

The telecom partnership for Cloud IMS network services compliance represents a strategic entry into a highly regulated market segment. This creates a potential recurring revenue stream through certification and compliance services, though the contract value remains undisclosed. Market penetration in these sectors typically leads to long-term client relationships due to high switching costs and integration complexity.

Tech Expert

The technological significance of these contracts lies in Gorilla's AI-powered lawful interception platform, which addresses a critical gap in the market. Traditional lawful interception systems often struggle with real-time data processing and analytics. Gorilla's AI implementation suggests advanced capabilities in pattern recognition and data correlation, essential for modern criminal investigations.

The Cloud IMS certification project demonstrates Gorilla's ability to integrate AI capabilities with telecommunications infrastructure while maintaining regulatory compliance - a complex technical challenge that few companies can execute effectively. This positions Gorilla as a bridge between legacy systems and next-generation AI-enabled services.

Legal Expert

The regulatory compliance aspect of these contracts is particularly noteworthy. Lawful interception systems must adhere to strict legal frameworks, including privacy laws and constitutional rights. Gorilla's ability to secure contracts in this highly regulated space indicates robust compliance mechanisms. The telecom certification project is especially significant as it addresses the complex intersection of telecommunications regulations and AI implementation.

The IMS network certification requirement represents a growing trend where AI systems must demonstrate compliance before deployment in critical infrastructure. This creates a potential competitive advantage for Gorilla as regulatory requirements for AI systems continue to evolve globally.

London, United Kingdom--(Newsfile Corp. - December 31, 2024) - Gorilla Technology Group Inc. (NASDAQ: GRRR) ("Gorilla" or the "Company") is closing the year on a high note, securing two more contracts in Taiwan that pave the way for even greater success in 2025.

The first is a pivotal project is with the law enforcement sector, centred on deploying Gorilla's AI-powered lawful interception and criminal investigation platform. This groundbreaking project demonstrates Gorilla's ability to harness artificial intelligence to empower agencies with intelligent, data-driven tools that enhance public safety and streamline operational efficiency.

The second contract involves a strategic collaboration with a leading telecom provider to enable their AI-enhanced Cloud IMS network service to meet lawful interception (LI) certification requirements. This initiative underscores Gorilla's pivotal role in deploying advanced AI-driven solutions to ensure compliance and security, empowering the telecom provider to launch their innovative service seamlessly while meeting critical regulatory standards.

Jay Chandan, Chairman and CEO of Gorilla Technology, commented: "As we turn the corner into 2025, Gorilla is not merely carrying momentum - we are building a transformative future. These two landmark agreements highlight our ability to deliver strategic solutions in highly specialised industries. I could not be prouder of what we have accomplished this year and the foundation we have laid for what is to come. Gorilla enters 2025 with not just a solid backlog but with eyes firmly on 2026."

Looking ahead, Gorilla remains committed to driving innovation, enabling smarter and more secure cities, and delivering outstanding value to its stakeholders. With a growing global presence, a robust product portfolio and an unparalleled focus on execution, Gorilla is well-positioned to dominate the market in 2025 and beyond.

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.

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 our ability to deliver products at competitive prices, our ability to service our customers, the growth of the Smart City market, the capabilities of our third party vendors, our ability to attract the attention of customers and win additional projects, 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/235640

FAQ

What new contracts did Gorilla Technology (GRRR) secure in Taiwan for 2024?

Gorilla Technology secured two contracts in Taiwan: one for an AI-powered lawful interception platform with law enforcement, and another with a telecom provider for AI-enhanced Cloud IMS network service compliance.

How will the new law enforcement contract impact Gorilla Technology's (GRRR) market position?

The contract strengthens Gorilla's position in the law enforcement sector by demonstrating their ability to provide AI-powered solutions for public safety and operational efficiency.

What is the significance of Gorilla Technology's (GRRR) telecom provider partnership?

The partnership enables the telecom provider to achieve lawful interception certification requirements for their AI-enhanced Cloud IMS network service, showcasing Gorilla's expertise in regulatory compliance solutions.

What are Gorilla Technology's (GRRR) growth prospects for 2025?

The company enters 2025 with a solid backlog and plans for expansion, focusing on smart city solutions and security innovations with expectations for growth through 2026.