IHC targeting tech acquisition as it looks to build giant technology holding arm by 2024

IHC targeting tech acquisition as it looks to build giant technology holding arm by 2024

- IHC has invested 15% in Bayanat’s coming IPO

Abu Dhabi, UAE: International Holding Company (ADX: IHC), One of the largest corporate investment holding companies in the Middle East and Africa, headquartered in Abu Dhabi, is bullish on scaling up its Information Technology businesses, as part of its long-term strategy to grow its capacity in the tech industry across different sectors.

Accelerating the growth of its tech businesses portfolio, IHC has increased its Technology deals by 100% compared to last year, crossing AED 1 billion in the first 10 months. The acquisitions included a 55% stake in Cyber security service provider CyberGate, an increase in Esyasoft ownership from 20% to 42%, 54% in Emircom Middle East, the leading information and communications technology (ICT) provider, and 15% in Bayanat, an AI-powered predictive geospatial intelligence technology company, which is planning to list 22.22% of its shares in Abu Dhabi via IPO this month.

“We are rapidly scaling our Technology businesses portfolio, already raising short and long-term acquisition targets with a clear path to achieve further profitability in the next 12 months," said Syed Basar Shueb, IHC’s Chief Executive Officer.

Technology deals continue to drive global transactions, as evidenced by the growing number and volume of technology,