Giza Systems announced on Sunday that it has signed a strategic investment partnership agreement with Avid Beam Technologies.
Giza Systems is a leading provider of digital transformation and systems integration services in the Middle East and North Africa, while Avid Beam Technologies is a leading provider of artificial intelligence-enabled video analysis services operating around the world through its offices and network of partners.
Avid Beam Technologies was founded in 2015 and is headquartered in the Netherlands. It also has offices in Egypt and the US, through which it provides specialised services in the field of video solutions using advanced artificial intelligence technology for communities, buildings, smart cities, and other sectors.
Furthermore, Avid Beam has received many awards, including an award for the best start-up in the field of artificial intelligence at CES 2018 Consumer Electronics Show in Las Vegas. It was also chosen as one of the top 100 companies in the field of artificial intelligence in the Middle East and North Africa region.
The company has a large business volume in the region with a strong focus on research and development using its own intellectual property rights, with which it competes with many international products in the field of video analysis, and the ATUN platform for processing and analysing video content with scalable artificial intelligence.
Avid Beam Technologies seeks to utilise computer vision and big data analysis tools for processing thousands of videos that are available in abundance from real-time surveillance cameras.
The partnership between Giza Systems and Avid Beam Technologies is an important strategic step to utilise the convergences between the two companies for business development, backed by their joint vision to enhance the company’s position as a global leader in providing video analysis services in light of the increasing growth in this field using artificial intelligence and data analysis.
Commenting on this important step, CEO of Giza Systems Osama Sorour said: “Through the smart city projects that we have participated in and the smart solutions that we have implemented in various sectors, this strategic partnership is a step and a milestone in our journey to strengthen our portfolio in the field of artificial intelligence to provide security and safety for smart communities.”
“Moreover, this partnership is in line with our strategy and ambitious goals to build a leading market in the field of video analysis using artificial intelligence to meet the needs of various sectors.”
He added that Giza Systems will operate as an independent supporting entity for business partners and other providers of integrated systems services.
“Developmental and commercial cooperation will create strategic advantages for both parties,” he noted.
For his part, Hany El-Gebaly — Founder and chairperson of Avid Beam Technologies — commented on the partnership agreement with Giza Systems, saying: “We are very excited about this partnership, as the merger and unification of the efforts and capabilities of such two leading companies in the field of integrated information systems will allow us to operate independently and benefit from the strategic cooperation to grow our business through Giza Systems’ work areas.”
He noted that the partnership will be a strong incentive that supports his company’s ambitions for strategic growth to offer better services for the market and provide consumers with added value.
