AUSTRIACARD HOLDINGS AG Strengthens Technology Portfolio with Acquisition of UK's LSTech

Vienna, Austria – May 21st 2024 – AUSTRIACARD HOLDINGS AG (ACAG), a leading technology company, announces the acquisition of 100% of the shares of LSTech, a UK-based research and data analytics company, for an enterprise value of 1.6 million euros. This strategic move enhances ACAG's commitment to providing cutting-edge solutions globally.

LSTech specializes in innovative data applications for large organizations. Their expertise in data analytics, big data, and machine learning within the banking, telecommunications, and utilities sectors supports ACAG's growth strategy.

LSTech is also active in EU-funded Research & Innovation programs, focusing on generative AI and privacy-preserving data analysis. This aligns with ACAG's forward-thinking vision.

"This acquisition demonstrates our commitment to expanding our technology-based solutions," stated Manolis Kontos, Group CEO of ACAG. "LSTech's talented team will be key in advancing ACAG’s solutions, enabling clients to tackle complex projects with cutting-edge technologies."