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Abu Dhabi-based diversified conglomerate International Holding Company (IHC) has announced the completion of the acquisition of a 54% stake in Emircom, a leading Middle East information and communications technology (ICT) provider, through its subsidiary IHC Digital.
For nearly four decades, Emircom has been the ICT partner of choice for many of the Middle East’s most challenging projects, serving a broad client base including service providers, governments, educational institutions, financial institutions and healthcare organizations.
The AED250 million ($68.06 million) deal is part of IHC’s group strategy to expand its digital asset portfolio and expand into new growth areas, according to a statement.
Syed Basar Shueb, CEO of IHC, said: “We will continue to pursue further acquisitions in different industries including the ICT sector, building on our track record of acquiring high value and profitable investments for the benefit of our shareholders. Short and long term. This acquisition of a majority stake in Emircom will help IHC Digital continue to deepen its profitability and depth in the industry.”
Founded in 1984, Emircom has established strategic partnerships with many well-known companies in the ICT field, including Cisco and Oracle as Gold Certified Partners, Dell as Titanium Partners, and Palo Alto, Fortinet, F5, Software AG, Microsoft, SAS, Huawei, Schneider and HP. With a series of successful infrastructure projects, Emircom now operates in the Middle East region, focusing on ICT to provide end-to-end digital solutions. Emircom is headquartered in Abu Dhabi, UAE.
Hussain Jasim Al Nowais, Chairman of Al Nowais Investments and shareholder of Emircom, said: “This acquisition brings a new dimension to Emircom and further expands our business growth plans in the Middle East market. IHC Digital, an important strategic subsidiary of the international holding company The strong support for the Emircom team is a testament to the Emircom team. We are delighted that our partnership will be further strengthened following this acquisition.”
Starting with just 5 employees in 1984, today Emircom has around 1,000 employees and is the market leader in the ICT industry in the Middle East. Emircom is a leading partner to many heavyweights in the ICT sector, especially Cisco, and contributes to the majority of Cisco’s business in the UAE and Saudi Arabia. – arab trade news agency
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