M&A Deal Summary

Global Technical Group Acquires Lummetry.AI

On September 23, 2021, Global Technical Group acquired information technology company Lummetry.AI

Acquisition Highlights
  • This is Global Technical Group’s 1st transaction in the Information Technology sector.
  • This is Global Technical Group’s 1st transaction in Romania.

M&A Deal Summary

Date 2021-09-23
Target Lummetry.AI
Sector Information Technology
Buyer(s) Global Technical Group
Deal Type Add-on Acquisition

Target

Lummetry.AI

Bucharest, Romania
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. Lummetry.AI was formed in 2007 and is based in Bucharest, Romania.

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Buyer(S) 1

Buyer

Global Technical Group

Bucharest, Romania

Category Company
Founded 2007
Sector Information Technology
DESCRIPTION

Global Technical Group is an end-to-end building management solution provider. Global Technical Group unique offering of building management solutions is complemented by proprietary software platforms (such as CAVI and Share Alert). Over the last two years, the Group has more than doubled its revenue by providing blue-chip clients in sectors such as real estate, banking and retail with innovative solutions that helped them shift from traditional, physical systems to technology-enabled systems. Global Technical Group was founded in 2007 and is based in Bucharest, Romania.


DEAL STATS #
Overall 1 of 1
Sector: Information Technology M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
Country: Romania M&A 1 of 1
Year: 2021 M&A 1 of 1