On Tuesday, NOS announced the purchase of 20% of Portuguese company DareData Engineering, which specializes in artificial intelligence (AI) projects, a partnership that will allow “the growth of both companies” in this area of “innovation and technological breakthroughs.”
The investment made by NOS in DareData’s capital stock was not upfront.
In a statement, the company, led by Miguel Almeida, said that “NOS has just acquired a 20% stake in DareData Engineering, one of the main growing names in AI, which is shaping the future of AI in Portugal, offering solutions in AI, machine learning and generative AI.”
The partnership “will allow both companies to grow in this area of innovation and technological breakthroughs that has a great future and in which DareData has helped companies around the world be more efficient and competitive,” says NOS.
Last March, partner and co-founder of the technology Nuno Bras told Lusa that DareData’s turnover had grown by 82% in 2023 to €3.1 million and that the company was aiming to expand its presence in the UK this year.
Founded in 2019, DareData has over 40 clients and over 100 completed national and international projects in its portfolio.
“We are very pleased with our new participation in a company with high growth potential in a strategic area such as generative artificial intelligence,” said NOS Executive President (CEO) Miguel Almeida, quoted in the statement.
“There was already a path between NOS and DareData, during which we were able to observe the quality of its management team and the extremely valuable pool of qualified talent. We believe that this transaction will open up new prospects for the development of the company. a set of new AI solutions for the global market,” the manager adds.
DareData operates in various sectors: telecommunications, industry, pharmaceuticals, retail or banking.
In addition to its presence in the country, the company is expanding its global presence by developing projects and solutions in the field of artificial intelligence in countries such as the United States, Brazil, Spain, France, Greece, Norway and Australia, the text says.
“This partnership will allow us to implement AI in even more companies in Portugal and around the world. We have always had a great relationship with NOS and we have learned a lot from what we have been able to bring to the organization in the areas of data and AI,” he says of Ivo Bernardo, “the partner of DareData mentioned in the statement.”
“On the other hand, we feel that the trust they place in our abilities is also a commitment to our special approach to our company culture and people management,” he adds.
“The acquisition of NOS capital in our company is a natural step in the relationship between two organizations based on our values and vision of the impact of technology on organizations, people and society. We know that this path is paved with scalable, secure and highly profitable artificial intelligence systems,” concludes Ivo Bernardo.
DareData, currently led by Nuno Bras, Ivo Bernardo and Rui Figueiredo, is the result of a partnership between Nuno Bras and Samuel Hopkins, professors at the Lisbon Academy of Data Science, and comprises more than 50 engineers and data scientists from schools such as the Institute of Higher Technical Education, the Nova School of Information Management and others.
Author: Lusa
Source: CM Jornal
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