Maqta Gateway acquires majority stake in Dubai Technologies

AD port group announced today that Maqta Gatewayits digital arm and facilitator of cutting-edge business digitalization solutions, has acquired a 60 percent equity stake in Dubai Technologiesa Dubai-based developer of trade and transportation solutions.

The total amount of the purchase of the 60 percent stake amounts to AED 28 million.

The company’s financial performance in FY2023 recorded revenue of AED 70.5 million and EBITDA of AED 8.4 million.

The company has developed an intelligent port operations management platform. Minato®, four transportation platforms and nine custom-designed white label solutions for digital-focused regional government agencies. All solutions are developed in-house by the company’s 300+ team members working collaboratively across the UAE and India.

Minato® is currently used by international port operators and includes the highly sought-after advanced digital twin technology for ports. It will be a great addition to Maqta Gatewaythe internal single window offer for the digitalization of ports, in addition to achieving cost synergies for the Group with its gradual implementation in all international ports managed by AD port group.

The company’s transportation platform comprises fleet management, passenger transportation, smart driving analytics and waste transportation management, which the Group can leverage to improve logistics efficiency in hinterland and industrial zone operations.

In addition to expanding its digital commerce portfolio, with this acquisition, Maqta Gateway will expand its internal capabilities, achieve cost synergies and further strengthen its position as a developer of cutting-edge digital business solutions. His offshore development experience will be invaluable as Maqta Gateway continues to expand internationally. Maqta Gateway has an R&D center in Vietnam after the successful acquisition of TTEK Inc..

Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Groupsaying,

“This acquisition reflects our strategic plans aimed at boosting AD Ports Group’s position as a provider of integrated digital business solutions for major markets, while increasing self-sufficiency in technologies critical to our business. It also reiterates our commitment to harnessing the power of emerging technologies that bring us closer to our ambition to develop an integrated digital portfolio of innovative business solutions that future-proof supply chains.

“The expanded technical capabilities acquired through this investment will be instrumental in delivering a more differentiated service to international markets. We also look forward to leveraging cost synergies, delivering superior operational efficiencies and unmatched solutions to our partners and stakeholders.”

Dr. Noura Al Dhaheri, CEO of Digital Cluster and CEO of Maqta Gateway, AD Ports Group, saying,

“Dubai Technologies has three decades of experience in delivering the best commercial and transportation solutions to governments and large enterprises. We are confident that the addition of these solutions to our portfolio and access to this unparalleled expertise will open perspectives to improve “Our foundation of customers, better serve our existing customers and stimulate growth plans. “This acquisition is another milestone in our journey as we move forward to be the leading global trade facilitator under the auspices of our wise leadership.”

Ahmed Alrafi, founder of Dubai Technologies, supported the acquisitionsaying,

“This is truly a pivotal moment for us at Dubai Technologies. Becoming part of Maqta Gateway and AD Ports Group will enable broader access to international markets and greater opportunities, adding fuel to our ambition to connect people and make the world smarter and more sustainable. We are proud of what we have achieved so far and look forward to collectively shaping the future of commerce and technology.”

The founder will retain a 40% stake in the company and the existing leadership team will remain at the helm to deliver on strategic growth plans.

News source: Emirates News Agency