The transaction, closed on September 15, will further strengthen GTS’s position as a market leader in software solutions for physical security automation.
Following the acquisition, GTS, part of GTS Global Technical Group, will continue to invest in Lummetry.AI’s research and development of AI engines. In addition, GTS is preparing to launch a new software platform for monitoring and managing security systems that will include integrated AI-based modules such as perimeter violation, people counting, people presence identification, camera tempering and crowd detection.
The company is also preparing for an international expansion, beginning in 2022, to leverage its strong IoT and AI solutions.
“Over the past two years, alongside Lummetry.AI, we have accelerated the integration of AI algorithms in everything we do, bringing a tremendous advantage to clients, who can benefit from advanced technology even if platforms used were not originally designed to be monitored with advanced software,” said GTS founder and CEO Mihai Stanescu.
“The acquisition of Lummetry.AI is the next exciting step in GTS’s growth story. Over the last five years, the company has seen an impressive compound annual growth rate (CAGR) of nearly 50%, and we expect to continue realizing double-digit revenue growth over the next five. The combination of these two teams will help us further improve our offering to clients and build our market-leading position”, said Abris partner Adrian Stanculescu.
GTS was founded in 2007 and consists of two divisions providing software solutions for the security industry, comprising advanced IoT solutions, building technologies, engineering, automation and energy efficiency, facility management and technical maintenance. GTS is one of the largest players in this sector in Romania, counting most of the largest banks, oil companies, shopping malls, retailers and international manufacturing and distribution companies among its clients.
Abris invested in the business in 2019 with the aim of accelerating the innovation process and laying the foundations for international expansion. Established in 2007, Abris Capital Partners is an independent private equity fund manager, focused on mid-market opportunities in the major countries of Central Europe.
Lummetry.AI 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.