Gorilla Technology Shares Rise 13% After Strategic Pact With British Telecom

By Chris Wack

Gorilla Technology Group shares were up 13% at $2.58 after the company said it entered into a strategic relationship with British Telecom to develop a container identification and container damage detection technology.

The stock hit its 52-week low of $1.65 on May 23, and is down 80% in the past 12 months.

The company said the collaboration, which is being actively deployed and tested at the Port of Tyne in northern England, combines Gorilla's expertise in video analytics with British Telecom's extensive network infrastructure.

Gorilla and British Telecom are working to develop an intelligent, automated solution that uses advanced video analytics technologies, using artificial intelligence and machine learning algorithms to analyze video footage captured at various stages of the container management process. The technology would be able to accurately and rapidly identify containers, track movements and detect any signs of damage or tampering.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

July 20, 2023 10:49 ET (14:49 GMT)

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