AUSTRIACARD HOLDINGS AG strengthens Technology Portfolio with acquisition of UK's LSTech

EQS-Media / 21.05.2024 / 11:07 CET/CEST
   Vienna, Austria – May 21^st 2024 – AUSTRIACARD HOLDINGS AG (ACAG), a
   leading technology company, announces today the acquisition of 100% of the
   shares of LSTech, a UK-based research and data analytics company at an
   enterprise value of 1,600,000 €. This strategic move bolsters ACAG's
   commitment to providing cutting-edge solutions for their clients across
   the globe.

   LSTech specializes in crafting innovative applications that empower large
   public and private organizations to unlock the true potential of their
   data. Their expertise lies in collecting, processing, and analyzing
   complex information, transforming it into clear, actionable insights that
   drive intelligent decision-making. LSTech's focus on data analytics
   solutions within banking, telecommunications, and utilities sectors,
   combined with their proficiency in big data and machine learning, makes
   them a perfect fit for ACAG's growth strategy.

   LSTech's strong track record extends beyond traditional commercial
   endeavors. Their active participation in EU and publicly funded Research &
   Innovation programs positions them at the forefront of ground-breaking
   technologies like generative AI, privacy-preserving data analysis, and
   large language models. This forward-thinking approach aligns perfectly
   with ACAG's vision for the future.

   "This acquisition underscores our unwavering commitment to expanding our
   technology-based solutions," stated Manolis Kontos, Group CEO of
   AUSTRIACARD HOLDINGS AG. "LSTech's team of highly-skilled engineers and
   data scientists will be instrumental in propelling ACAG’s solutions to the
   next level. Together, we will empower our clients to tackle complex big
   data and machine learning projects, leveraging cutting-edge mathematical
   modelling and enterprise-grade solutions."

    

   About LSTech

   LSTech is a UK-based research and data analytics company with a proven
   track record of success in the UK and Spain. Their expertise lies in
   unlocking the power of complex data through innovative applications,
   empowering organizations to make data-driven decisions.

    

   About AUSTRIACARD HOLDINGS AG

   AUSTRIACARD HOLDINGS AG leverages over 130 years of experience in
   information management, printing, and communications to deliver secure and
   transparent experiences for its customers. They offer a comprehensive
   suite of products and services, including payment solutions,
   identification solutions, smart cards, card personalization, digitization
   solutions, and secure data management. ACAG employs a global workforce of
   2,700 people and is publicly traded on both the Athens and Vienna Stock
   Exchanges under the symbol ACAG.

   Contact person: Mr. Dimitrios Tzelepis, Executive Director, Capital
   Markets, M&A and IR

   Tel.:  +43 1 61065 - 357

   E-Mail:  d.tzelepis@austriacard.com

   Website:  www.austriacard.com

   Symbol:  ACAG

   ISIN:  AT0000A325L0

   Stock Exchanges: Vienna Prime Market, Athens Main Market

    

   End of Media Release

   ══════════════════════════════════════════════════════════════════════════

   Issuer: AUSTRIACARD HOLDINGS AG
   Key word(s): Information technology

   21.05.2024 CET/CEST This Press Release was distributed by EQS Group AG.
   www.eqs.com

   ══════════════════════════════════════════════════════════════════════════

   Language:    English
   Company:     AUSTRIACARD HOLDINGS AG
                Lamezanstraße 4-8
                1230 Vienna
                Austria
   E-mail:      ac.contact@austriacard.com
   Internet:    https://www.austriacard.com/
   ISIN:        AT0000A325L0
   WKN:         A3D5BK
   Listed:      Vienna Stock Exchange (Official Market)
   EQS News ID: 1907731


    
   End of News EQS Media


   1907731  21.05.2024 CET/CEST

OTS-ORIGINALTEXT PRESSEAUSSENDUNG UNTER AUSSCHLIESSLICHER INHALTLICHER VERANTWORTUNG DES AUSSENDERS - WWW.OTS.AT |

print