LONDON, May 06, 2024 (GLOBE NEWSWIRE) -- Gorilla Technology Group Inc. (NASDAQ: GRRR) ("Gorilla" or the "Company"), a global solution provider in Security Intelligence, Network Intelligence, Business Intelligence, and IoT technology, today announced a strategic partnership with Misr Trade & Investment Group ("MTI"), a technology and logistics solutions leader in the MENA region. The partnership reinforces both parties' commitment to revolutionizing the global cybersecurity market with advanced technological solutions and optimized supply chain strategies.

Gorilla and MTI are joining forces to establish a state-of-the-art manufacturing plant in Egypt that will drive technological advances and foster economic growth in the region. This manufacturing plant will serve as a hub for producing cutting-edge Customer Premises Equipment (CPE) tailored to meet the evolving needs of governmental and enterprise sectors worldwide.

The partnership between Gorilla and MTI extends across three key areas of collaboration:

• Technology and Knowledge Sharing and Development: By pooling resources and talent, Gorilla and MTI aim to accelerate the development of advanced network appliances and intelligent edge solutions focused on performance and reliability.
  
• Market Development and Sales Channel Expansion: Through joint marketing efforts, channel partner development, and targeted sales initiatives, the partnership plans to advance into important government and business markets with tailored offerings. Establishing a strong distribution and reseller network will help Gorilla and MTI improve their market presence and make their products more readily available, with an emphasis on increasing sales and customer satisfaction.
  
• Supply Chain and Logistics Optimization: Gorilla and MTI are committed to optimizing supply chain and logistics operations to ensure timely and cost-effective delivery of raw materials and finished goods. Leveraging MTI's local logistics networks, customs expertise, and storage facilities, the partnership will streamline operations, reduce lead times, and enhance the overall customer service experience.
  

Commenting on the partnership, Jay Chandan, Chairman & CEO of Gorilla, said, "We are thrilled to embark on this transformative journey with MTI. By combining our expertise and resources, we are poised to redefine industry standards and drive innovation on a global scale. Together, we will create unparalleled value for our customers while contributing to the economic development of Egypt and beyond. The cybersecurity market in the Middle East and Africa is on a remarkable growth trajectory, projected to expand from $22.2 billion in 2023 to $36.2 billion by 2028, reflecting a robust compound annual growth rate of over 10%. This dynamic expansion is driven by a surge in the adoption of cutting-edge cybersecurity solutions and services, fueled by an increasing number of cyber-attacks and the accelerating pace of digital transformation, including the rise of eCommerce and digital payment solutions. This trend underscores the region's commitment to enhancing its digital infrastructure and security capabilities, promising a future of increased stability and safety in the digital landscape."

Ashraf Omran Chairman & CEO of MTI, added, "The partnership between MTI and Gorilla exemplifies the power of collaboration and shared vision. By leveraging our complementary strengths, we are positioned to address the evolving needs of our customers and deliver exceptional solutions with speed and agility. We look forward to this partnership with Gorilla, which will build on our commitment to shape the future of technology and logistics."

About Gorilla Technology Group Inc.
Gorilla, headquartered in London U.K., is a global solution provider in security intelligence, network intelligence, business intelligence and IoT technology. Gorilla develops a wide range of solutions including Smart Cities, Smart Retail, Enterprise Security, and Smart Media. In addition, Gorilla provides a complete Security Convergence Platform to government institutions, telecom companies and private enterprises with network surveillance and cyber security.

Gorilla places an emphasis on offering leading technology, expert service, and precise delivery, and ensuring top-of-the-line, intelligent and strong edge AI solutions that enable clients to improve operational performance and efficiency. With continuous core technology development, Gorilla will deliver edge AI solutions to managed service providers, distributors, system integrators, and hardware manufacturers. For more information, please visit our website: Gorilla-Technology.com.

About Misr Trade & Investment Group
Misr Trade & Investment (MTI) represents a group of organizations with diversified fields of operations, working under the supervision of a highly experienced and reputed management. The diversification of this group is the consequence of the visionary leadership and their determination to progress.

Forward-Looking Statements
This press release contains forward-looking statements, which are based on estimates, assumptions, and expectations. Actual results and performance could differ materially and adversely from those expressed or implied in forward-looking statements. Gorilla does not undertake any obligation to update any forward-looking statements, except as required by law.

Investor Relations Contact:
Cody Fletcher
The Blueshirt Group for Gorilla
+1 (434) 251-7165
gorilla@blueshirtgroup.co