Why Gorilla Technology Shares Are Shooting Higher Today

Gorilla Technology Group Inc GRRR shares are trading higher by over 13% after it reported a strategic deal with BT Group Plc BTGOF British Telecom to provide AI-Powered, innovative smart port solutions.

The deal combines Gorilla's video analytics expertise with BT's vast network infrastructure into an extensive solution to cater to the critical needs of the logistics industry.

In particular, Gorilla and BT have joined hands to create an intelligent, automated solution to drive advanced video analytics technologies, thereby aiding stakeholders in efficiently managing container identification and detecting potential damages.

"Our relationship with British Telecom marks a significant milestone in the evolution of container management solutions. By leveraging the power of video analytics and BT's robust network infrastructure, we can revolutionize how containers are identified, tracked, and monitored. Our solution will empower logistics companies to streamline operations, reduce costs, and improve the overall integrity of the global supply chain," said Dr Rajesh Natarajan, Chief Innovation Officer.

Earlier this month, Gorilla disclosed a $270 million contract with the Government of Egypt to implement a Smart Government Security Convergence solution.

Price Action: GRRR shares are up 13.6% at $2.58 on the last check Thursday.

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