Abu Dhabi, UAE — AD Ports Group announced today that Maqta Gateway, its digital arm and enabler of cutting-edge trade digitalization solutions, has acquired a 60 percent equity stake in Dubai Technologies, a trade and transportation solutions’ developer headquartered in Dubai, for AED28 million ($7.6 million).
The company’s FY2023 financial performance recorded revenues of AED70.5 million and EBITDA of AED8.4 million.
The company has developed an intelligent ports’ operations management platform – Minato, four transportation platforms, and nine white-label solutions that are custom-built for regional digitally focused government bodies. All solutions are built in-house by the company’s 300+ team members working collaboratively across the UAE and India.
Minato is currently utilized by international port operators and includes the highly coveted advanced digital twin technology for ports.
In a statement, AD Ports said it will be a great addition to Maqta Gateway’s in-house single window offering for ports’ digitalization, in addition to realizing cost synergies for the Group with its gradual implementation across all international ports managed by AD Ports Group.
Besides broadening its digital trade portfolio, with this acquisition, Maqta Gateway will extend its inhouse capabilities, realize cost synergies and further strengthen its position as the developer of leading-edge digital trade solutions, the statement said.
Their offshore development expertise will be of great value as Maqta Gateway continues to expand internationally. Maqta Gateway has an R&D hub in Vietnam following the successful acquisition of TTEK Inc.
The founder will retain a 40 percent stake in the company, and the existing leadership team will remain in management to deliver on the strategic growth plans.