RO physical security software leader GTS Global Intelligence takes over AI startup
GTS Global Intelligence, the only Romanian developer of integrated software platforms dedicated to physical security solutions, is taking an important step towards consolidating the market leader position by acquiring Lummetry.AI, an artificial intelligence company founded and led by a Romanian team.
"The acquisition of Lummetry.AI is the next exciting step in GTS's growth story. Already GTS' business has seen an impressive CAGR of nearly 50% in the past five years," said Adrian Stanculescu, Partner at Abris, Start-up.ro reported.
GTS Global Intelligence is part of GTS Global Technical Group, controlled by the Central & Eastern European private equity fund manager Abris Capital Partners.
Lummetry.AI, founded by Andrei Damian - Chief Research Officer, offers solutions that work as AI "engines", which integrate with existing IT tools, security, and video monitoring infrastructure, transforming the platforms into solutions capable of automatically processing multiple video streams and large amounts of data.
The company will complement GTS by bringing capabilities for the development, implementation, and maintenance of software platforms dedicated to security systems management, as well as a track record of successful projects and a team with an advanced level of expertise in the field of AI.
"[Refocusing on the development of AI products and engines] has proved to be a wise move, given that our turnover in 2021, until August, is 5 times higher than in 2020. Regarding the integration of Lummetry.AI in GTS Global Intelligence, we know that this is a step in the right direction and will lead to the continuation of this growth trend," Andrei Damian said, speaking about the deal.
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