The global holding firm, which is listed on the Abu Dhabi Financial Market, declared on Monday that, as part of its long-term strategy to grow its business and capabilities in the technology industry throughout its many sectors, it plans to broaden the scope of information technology.
The global holding company expanded its agreements in the technology sector by 100% from last year to reach more than one billion dirhams in the first ten months of this year in order to accelerate the growth of its technological business portfolio.
The purchases included 55% of Cybergate’s shares, which were used to provide cybersecurity services, an increase in Essia Soft’s property from 20% to 42%, 54% of the American Middle East Company, a forerunner in the provision of information and communications technology, and 15% of a data company, which is a provider of geographic and artificial intelligence technologies and information technology.
Sayed Boshair Shuaib, CEO of the Global Holding Company, said, “We are working to quickly broaden the scope of our business portfolio in the technology industry, and we are already working to increase the goals of short- and long-term acquisitions with a clear path to achieve more profitability in the next 12 months.
He emphasised that at a time when technical deals continue to pay for international transactions, as well as the rise in the volume and magnitude of technology, media, and communications mergers and acquisitions in recent years.
With the intention of becoming the largest holding company in the technology sector in the Middle East and Africa, the planned company for its launch from the International Holding Company will not only concentrate on acquiring a majority stake in large technology companies, but also on small and medium technology companies as it will retain various technological sectors under its umbrella.
Al-Alamiah Holding wants to establish a massive technology firm in Abu Dhabi by 2024.
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