Gorilla Technology Group Inc. (NASDAQ: GRRR) shares retreated Tuesday, on word the London-based company has announced a strategic partnership with NC Digy Smart Cities, a renowned Miami-based smart cities integrator, alongside AECOM (NYSE: ACM) one of the world's most trusted infrastructure consulting firms, also headquartered in Miami. This collaboration is set to transform the landscape of urban development across Latin America and the United States, harnessing advanced technologies to build and deploy next-generation smart cities.
The partnership marks a monumental step in the evolution of smart city infrastructure, targeting one of the most significant growth opportunities in the Western Hemisphere. With the smart cities market in Latin America rapidly expanding and the United States poised to embrace a new era of urban development, this initiative is expected to drive unprecedented growth over the next 30 to 50 years.
By leveraging NC Digy Smart Cities and Gorilla's robust AI and cybersecurity solutions, the partnership will offer a comprehensive range of services to local governments and companies. This includes the integration of advanced surveillance, AI-driven analytics and secure data management systems designed to enhance public safety and operational efficiency.
GRRR shares handed back 14 cents, or 3.4%, to $3.94, while those for ACM dropped 77 cents to $104.43.
