Giza Systems Makes a Strategic Investment in AvidBeam Technologies
Giza Systems, digital transformation enabler and leading systems integrator in the MEA region, has announced that it has made a strategic investment in AvidBeam, a leading Artificial Intelligence (AI) based video analytics provider operating worldwide through its offices and network of partners.
Established in 2015 and based in the Netherlands with offices in Egypt and USA, AvidBeam offers cutting-edge AI video solutions for smart communities, smart buildings and cities amongst other sectors. AvidBeam is a multi-award winner; recognized at CES 2018 for best AI startup in Las Vegas and selected as one of the Top 100 AI companies in MENA region that will impact the 4th industrial revolution, by reputable international awarding organizations such as IFC and the World Economic Forum.
AvidBeam has a solid presence in the region with a high focus on R&D. Having its own IP solution competing with international video analytics products, and with ATUN as its scalable AI video processing platform, AvidBeam leverages computer vision and Big Data tools in order to process thousands of video streams from surveillance cameras efficiently in real-time. AvidBeam supports a wide range of use cases including anomaly detection, traffic management, biometric identification, customer journey and dwell-time mapping, personal protective equipment detection, and vehicle management.
With the exponential growth of the AI and Big Data video analytics market, the new partnership comes as a strategic move to leverage synergies of both companies for the growth of the business driven by their shared vision to position the company as a world leading video analytics provider.
“With our smart cities and smart solutions projects cutting across various industries, this strategic partnership is a significant milestone in our journey of strengthening our AI portfolio for the safety and security of smart communities, as well as being in line with our strategy and ambition of building an AI video analytics market leader catering to various industries,” stated Osama Sorour, CEO Giza Systems. He confirmed, “AvidBeam will operate independently as a standalone company working with other systems integrators and business partners; and yet, we believe that the development and commercial synergies will create remarkable and strategic benefits for us both.”
“We are extremely excited about this compelling partnership with Giza Systems. Joining forces with such a leading systems integrator will allow us to operate independently, and benefit from a strategic collaboration of growing our business across Giza Systems regions of operations, and utilizing Giza Systems’ sales and technical capabilities to scale the business much faster. We believe this partnership is the catalyst to drive our ambitious growth strategy to better serve this growing market and create additional value to our customers,” commented Dr. Hani El-Gebaly, Founder, President & CEO AvidBeam Technologies.
