So we feel very solid, this is going to be a very good growth engine for the company.
Unidentified Analyst: Excellent. Thank you. Can you explain how the Dangot acquisition is performing?
Shai Lustgarten: Yes, the acquisition is a very solid, positive one. We’re very happy with the performance. We’ve been able to very quickly achieved a lot of the goals that we had hoped for to achieve from this acquisition, for example, the cross sales both ways into Dangot’s existing customers of OMNIQ’s AI product together with cross-selling the products of Dangot to OMNIQ’s existing customers in the U.S. So that immediately took effect and we’re very happy about that. And it created the significant growth as well, which overall represents a very solid organic growth, as we saw going up from $78 million last year, into the $102.5 million this year.
Unidentified Analyst: That’s wonderful. And regarding the AI technology, is the Israeli Ministry of Defense buying from OMNIQ?
Shai Lustgarten: Yes, the IMoD, the Israeli Minister of Defense is one of the very good customers of OMNIQ today, using the AI for their control product, which we have for governments and militaries. And, yes, we’re very happy every year to extend the services and probably exclusively providing the border control security to the Israeli Minister of Defense, which is very exciting. And very, we’re very proud of that. Yes.
Unidentified Analyst: Yes, impressive. And then can you explain the usage of the AI for AI for the retail sector that you talked about before? What is the potential in it also?
Shai Lustgarten: Well, absolutely the QSR, the restaurant and fast food chain market for OMNIQ the new vertical, this new vertical, of course, is a huge one. We’re talking about thousands of thousands of thousands of locations throughout the nation, not even mentioning worldwide. And what is nice about again, the solution that OMNIQ provides, it allows to learn customers behavior through our AI machine learning capabilities, and this way, automate actions and we’re all hearing about and reading about – I’m receiving from many people on this call articles through texts, or they send me by email of different AI solutions of voice recognition that automate or to better performance in drive throughs for example, but OMNIQ, what we say here in OMNIQ is why do you need even to speak to, to describe to on the mic or focus on that.
You can from starting using OMNIQ solution we immediately from the second customer comes into a drive through for example that is when we start learning its habits, the habits of that customer and the next time that same customer comes, we are 95% accurate in the order that he’s going to be placed and we can automate the action without even the consumer or the customer needing to even interact with anyone. So basically we do that through different parameters. And it is all based on our machine vision technology.
Unidentified Analyst: That’s amazing. I have to say – I have to ask, how do you see the Q1?
Shai Lustgarten: We started – as we mentioned, as well, we don’t give guidance. But we did mention that we started Q1 with a strong momentum. So I would we feel very comfortable. And we’re now at the end of Q1, and we still feel very positive and comfortable with the results.
Unidentified Analyst: That’s good to hear. And are you considering it another acquisitions?
Shai Lustgarten: As we always said before, we look at two strategies for growth. One is organic for of course, and the other one is M&A. And we’re always examining all the time on the M&A opportunities we have that come to our table or that we search for, and yes, definitely. I mean, once we feel comfortable, and this is going to be something that is beneficial to reach our objectives quicker, we’ll jump on it and make it happen.
Unidentified Analyst: Okay, wonderful. Thank you very much, Shai. Thank you very much.
