Gorilla and MTI Unveil Strategic Alliance to Pioneer Advanced Manufacturing Hub in Egypt
In a landmark announcement from London on May 6, 2024, Gorilla Technology Group Inc. (NASDAQ: GRRR), a frontrunner in Security Intelligence, Network Intelligence, Business Intelligence, and IoT technology, has entered into a strategic partnership with the Middle East and North Africa’s (MENA) technological and logistics pioneer, Misr Trade & Investment Group (“MTI”). This collaboration is set to spearhead innovation in the global cybersecurity market through cutting-edge technological solutions and optimized supply chain strategies, marking a significant milestone in tech and manufacturing landscapes.
The synergy between Gorilla and MTI is poised to birth a state-of-the-art manufacturing plant in Egypt aimed at propelling technological advancements while bolstering economic growth within the region. This initiative promises to launch a hub for Customer Premises Equipment (CPE), designed to meet the dynamic requirements of both governmental and enterprise sectors on a global scale.
The partnership’s framework revolves around three pivotal facets of collaboration:
- Technology and Knowledge Sharing and Development: By merging their rich resources and talent, Gorilla and MTI are on track to fast-forward the creation of advanced network appliances and intelligent edge solutions, with a focus on performance and reliability.
- Market Development and Sales Channel Expansion: The alliance aims to deepen their roots in key government and business markets through joint marketing initiatives, channel partner development, and strategic sales campaigns, strengthening their distribution and reseller network to boost market presence and customer satisfaction.
- Supply Chain and Logistics Optimization: Both entities are dedicated to refining supply chain and logistics operations to ensure the efficient and cost-effective delivery of materials and products. Capitalizing on MTI’s expansive local logistics network and expertise, the partnership envisions streamlined operations, reduced lead times, and an enhanced customer service experience.
Jay Chandan, Chairman & CEO of Gorilla, expressed his enthusiasm about the partnership, highlighting the mutual ambition to set new industry benchmarks and foster innovation on a global scale. Chandan noted, “Together, we will create unparalleled value for our customers while contributing to the economic development of Egypt and beyond.” He underscored the significant growth trajectory of the cybersecurity market in the Middle East and Africa, which is expected to surge from $22.2 billion in 2023 to $36.2 billion by 2028.
Ashraf Omran, Chairman & CEO of MTI, echoed Chandan’s sentiments, emphasizing the strength of collaboration and shared vision in meeting customer needs and delivering top-notch solutions. “We look forward to this partnership with Gorilla, which will build on our commitment to shape the future of technology and logistics,” Omran stated.
About Gorilla Technology Group Inc.
Headquartered in London, U.K., Gorilla Technology Group Inc. is a global leader in security intelligence, network intelligence, business intelligence, and IoT technology. With an emphasis on edge AI solutions, Gorilla aims to enhance operational performance and efficiency across various sectors, including Smart Cities, Smart Retail, Enterprise Security, and Smart Media. For more details, visit Gorilla-Technology.com.
About Misr Trade & Investment Group
Misr Trade & Investment (MTI) spans a diverse range of operations, guided by a vision for progress and exemplary leadership. MTI’s diversification and success are testament to its visionary leadership’s determination and expertise.
This strategic alliance between Gorilla and MTI is more than just a business collaboration; it’s a futuristic vision aimed at redefining technology and innovation landscapes in Egypt and beyond, promising a brighter, technologically advanced future.
Note: This press release contains forward-looking statements that involve certain risks and uncertainties. Actual results may vary.
For investor relations contact Cody Fletcher at The Blueshirt Group for Gorilla at +1 (434) 251-7165 or via email at gorilla@blueshirtgroup.co.
