Austriacard announced on Tuesday the acquisition of 100% of the shares of LSTech, a UK-based research and data analytics company, valuing the business at €1,6 million.

This strategic move reinforces ACAG's commitment to providing cutting-edge technology solutions to its customers around the world. LSTech specialises in creating innovative applications that enable large public and private organisations to harness the true potential of their data. Its expertise lies in collecting, processing, and analysing complex data and turning it into clear, actionable insights that drive intelligent business decisions.

LSTech's focus on data analytics solutions in the banking, telecommunications, and utilities industries, combined with its expertise in big data, artificial intelligence (AI), and machine learning, makes it an ideal addition, in line with ACAG's growth strategy. LSTech's activities extend beyond commercial applications to active participation in research and innovation projects funded by the European Union and other public bodies, allowing it to acquire expertise and exploit cutting-edge technologies such as generative AI, privacy-preserving analytics, and large language models. This focus on cutting-edge technologies is perfectly aligned with ACAG's vision for the future.

"This acquisition underscores our strong commitment to expanding our technology-based solutions," said Manolis Kontos, Group CEO .

"LSTech's highly skilled team of engineers and data scientists will be instrumental in upgrading ACAG's solution offerings. Together, we will enable our customers to tackle complex big data, AI, and machine learning projects, leveraging cutting-edge mathematical models and enterprise-grade solutions."