UAE: International Holding Company expands IT businesses with over $272mln in 10 months

UAE: International Holding Company expands IT businesses with over $272mln in 10 months

ABU DHABI - International Holding Company (IHC) is 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 percent compared to last year, crossing AED1 billion in the first 10 months.

The acquisitions included a 55 percent stake in cybersecurity service provider CyberGate, an increase in Esyasoft ownership from 20 percent to 42 percent, 54 percent in Emircom Middle East, the leading information and communications technology (ICT) provider, and 15 percent in Bayanat, an AI-powered predictive geospatial intelligence technology company, which is planning to list 22.22 percent 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, media, and telecommunications (TMT) mergers & acquisitions (M&A) in recent years. IHC’s planned Tech Holding company will not only focus on acquiring a majority stake