Courtesy: Container News
ABU DHABI:
AD Ports Group’s digital arm, Maqta Gateway has acquired a 60% equity stake in Dubai Technologies, a Dubai-based developer of trade and transportation solutions.
The acquisition, valued at US$7.6 million, comes on the heels of Maqta Gateway’s robust financial performance in FY2023, with revenues hitting around US$20 million and EBITDA standing at US$2.3 million approximately.
“In line with the vision of our wise leadership, we at AD Ports Group have long realised the significance of keeping pace with advanced technologies and making the best of advanced solutions and innovations to reimagine the future of trade regionally and globally. This acquisition reflects our strategic plans aimed at boosting AD Ports Group’s position as an integrated digital trade solutions provider to core markets, while increasing self-reliance for critical technologies to our business,” stated Captain Mohamed Juma Al Shamisi, managing director and CEO of AD Ports Group.
Dubai Technologies has a strong track record of developing innovative solutions, including the Minato® intelligent ports operations management platform, four transportation platforms, and nine white-label solutions tailored for digitally focused government entities in the region. With over 300 team members across the UAE and India, Dubai Technologies brings a wealth of expertise to the table.
Additionally, the Minato® platform, featuring advanced digital twin technology for ports, is already in use by international port operators and will complement Maqta Gateway’s existing offerings for port digitalization. Additionally, Dubai Technologies’ transportation platforms, covering fleet management, passenger transportation, smart driving analytics, and waste transportation management, will enhance logistics efficiencies in hinterland and industrial zone operations.
Beyond expanding its digital trade portfolio, Maqta Gateway sees the acquisition as an opportunity to strengthen its in-house capabilities, realize cost synergies, and solidify its position as a leader in digital trade solutions development. The expertise of Dubai Technologies’ offshore development team will be particularly valuable as Maqta Gateway pursues international expansion. With an R&D hub already established in Vietnam through the acquisition of TTEK Inc., Maqta Gateway is well-positioned for further growth and innovation in the global market.
“Dubai Technologies has three decades of expertise in delivering best-in-class trade and transportation solutions to government and large enterprises. We are confident that the addition of these solutions to our portfolio, and the access to this unrivalled expertise will open-up prospects to enhance our customer base, better serve our existing customers, and spur growth plans. This acquisition is yet another milestone in our journey as we forge ahead to be the leading global trade facilitator under the auspices of our wise leadership,” commented Dr Noura Al Dhaheri, CEO of Digital Cluster and CEO of Maqta Gateway, AD Ports Group.
Ahmed Alrafi, founder of Dubai Technologies, supported the acquisition, saying, “This is truly a pivotal moment for us at Dubai Technologies. Becoming a part of Maqta Gateway and AD Ports Group will enable wider access to international markets and bigger opportunities, adding fuel to our ambition of connecting people and making the world smarter, sustainably. We are proud of what we have achieved so far and look forward to collectively shaping the future of trade and technology.”
The founder will retain a 40% stake in the company and the existing leadership team will remain in management to deliver on the strategic growth plans.
