International holding company expands IT business with over $272 million in 10 months

ABU DHABI – International Holding Company (IHC) is expanding its information technology business as part of its long-term strategy to enhance the technology industry’s capabilities in different areas.

IHC accelerated the growth of its tech portfolio, with a 100% increase in tech deals compared to last year, surpassing AED1 billion in the first 10 months.

The acquisitions include a 55% stake in cybersecurity services provider CyberGate, an increase in Esyasoft’s ownership from 20% to 42%, 54% in Emircom Middle East, a leading information and communications technology (ICT) provider, and Bayanat’s 15%, an artificial intelligence-driven predictive geospatial intelligence technology company that plans to list a 22.22% stake in Abu Dhabi through an IPO this month.

Syed Basar Shueb, CEO of IHC, said: “We are rapidly expanding our technology portfolio, have raised our short- and long-term acquisition targets, and provide a clear path to further profitability over the next 12 months.”

Technology deals continue to drive global deals, as evidenced by the growing number and volume of technology, media and telecommunications (TMT) mergers and acquisitions (M&As) in recent years. IHC’s planned tech holding company will focus not only on acquiring majority stakes in large tech companies, but also on small and mid-sized tech businesses, as it will have diverse tech verticals under its umbrella, aiming to become the world’s largest tech holding company. Middle East and Africa region.

With the tech industry dominating M&A deals in 2021, international holding companies are looking to deepen their regional and global tech participation and investments and set records for deal value and volume. Tech M&A in 2021 is up 71% from 2020 levels, with a total value of $1.1 trillion, or 20% of global M&A.

“We are convinced that the tech sector has the potential for further growth locally and regionally, as our market remains stable with attractive growth rates. If companies can achieve their value creation goals, this is an excellent time for deal opportunities. We are charting an acquisition approach for our technology targets, which will have a diverse but strong industry portfolio,” added Shueb.