Abu Dhabi, UAE—International Holding Company (IHC) has scaled up its IT business, making deals to the tune of $272 million in the first ten months of 2022.
It is part of the company’s long-term strategy to grow its capacity in the tech industry across different sectors.
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 in large-size tech companies, but also the small and medium tech businesses as it will hold diversified tech verticals under its umbrella, aiming to become the largest Tech Holding company in the Middle East and Africa region.
International Holding Company is looking to deepen its engagement and investment in the tech space regionally and globally as the technology sector dominated mergers and acquisitions in 2021, setting records in deal value and volume.
Technology mergers and acquisitions in 2021 increased by 71 percent from 2020 levels, with dealmaking totaling US$1.1 trillion and accounting for 20 percent of all global merger and acquisition deal value.
“We are certain there is potential for further growth in the tech sector, locally and regionally, as our market remains stable with an attractive growth rate. This is an excellent period for dealmaking opportunities if companies can achieve their value-creation objectives. We are mapping our tech target’s acquisition approach, which will have a diversified yet strong industry portfolio,” Shueb added.