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

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

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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

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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

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