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

EQS-Media / 21.05.2024 / 11:07 CET/CEST

Vienna, Austria – May 21st 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

21.05.2024 CET/CEST This Press Release was distributed by EQS Group AG. www.eqs.com

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