- In a strategic move, Maqta Gateway, the digital arm of AD Ports Group, has successfully acquired a 60% equity stake in Dubai Technologies, a prominent Dubai-based developer specializing in trade and transportation solutions.
- The acquisition, valued at US$7.6 million, follows Maqta Gateway’s robust financial performance in FY2023, with revenues reaching approximately US$20 million and EBITDA standing at US$2.3 million.
Strategic Vision and Technological Advancement
Captain Mohamed Juma Al Shamisi, Managing Director and CEO of AD Ports Group, emphasized the organization’s commitment to technological advancement in line with the vision of leadership. The acquisition aligns with AD Ports Group’s strategic plans, aiming to strengthen its position as a leading digital trade solutions provider in core markets.
Dubai Technologies’ Expertise and Solutions
Dubai Technologies, with a proven track record spanning three decades, brings innovative solutions to the table. Their Minato® intelligent ports operations management platform, four transportation platforms, and nine white-label solutions tailored for government entities have garnered recognition. The company, boasting over 300 team members across the UAE and India, is known for its expertise.
Integration of Technological Solutions
The Minato® platform, featuring advanced digital twin technology for ports, aligns seamlessly with Maqta Gateway’s existing offerings for port digitalization. Dubai Technologies’ transportation platforms covering fleet management, passenger transportation, smart driving analytics, and waste transportation management will contribute to logistics efficiencies.
Strategic Advantages and Future Growth
Maqta Gateway views the acquisition not only as an expansion of its digital trade portfolio but also as an opportunity to reinforce in-house capabilities, realize cost synergies, and solidify its leadership in digital trade solutions development. The incorporation of Dubai Technologies’ expertise will be pivotal as Maqta Gateway explores international expansion.
Leadership’s Perspective
Dr. Noura Al Dhaheri, CEO of Digital Cluster and CEO of Maqta Gateway, expressed confidence that the acquisition would enhance customer service, attract new clientele, and facilitate growth. Ahmed Alrafi, founder of Dubai Technologies, conveyed excitement about the opportunity, emphasizing the collective ambition to shape the future of trade and technology.
Stake Retention and Leadership Continuity
Under the terms of the acquisition, Ahmed Alrafi will retain a 40% stake in Dubai Technologies. The existing leadership team will continue to manage the company, ensuring a seamless transition and the fulfillment of strategic growth plans.
This acquisition stands as a pivotal moment for Maqta Gateway, AD Ports Group, and Dubai Technologies, marking a significant step toward shaping the future landscape of global trade and technology.
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Source: Container News
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