Austriacard Holdings AG (ACAG), a leading technology company, announces today the acquisition of 100 percent of the shares of LSTech, a UK-based research and data analytics company at an enterprise value of 1.6 million euros.

LSTech specializes in crafting innovative applications that empower large public and private organizations to unlock the true potential of their data. Their expertise lies in collecting, processing, and analyzing complex information, transforming it into clear, actionable insights that drive intelligent decision-making. LSTech’s focus on data analytics solutions within banking, telecommunications, and utilities sectors, combined with their proficiency in big data and machine learning, makes them a perfect fit for ACAG’s growth strategy.

“This acquisition underscores our unwavering commitment to expanding our technology-based solutions,” stated Manolis Kontos, Group CEO of Austriacard Holdings AG. “LSTech’s team of highly-skilled engineers and data scientists will be instrumental in propelling ACAG’s solutions to the next level. Together, we will empower our clients to tackle complex big data and machine learning projects, leveraging cutting-edge mathematical modelling and enterprise-grade solutions.”