Dubai: Injazat Data Systems will expand its operations into neighbouring countries over the next year following last week’s change in ownership structure, chief executive Ebrahim Lari said on Monday.
Abu Dhabi’s state-owned fund Mubadala Development Company acquired Hewlett Packard’s 40 per cent stake for an undisclosed sum last week to take full ownership.
Lari said the change of ownership, which sees it become vendor independent, allows the company to focus on a long-term growth strategy. Under the new ownership, Lari said Injazat will also focus on working with Abu Dhabi and other UAE government departments.
Injazat announced at Gitex Technology Week on Monday it has signed an agreement to help develop and manage Abu Dhabi Food Control Authority (ADFCA) mobile services. Financial details of the agreement were not disclosed.
Lari, speaking to reporters at Gitex, said the now entirely Abu Dhabi owned company is looking for partnerships to drive its expansion into the neighbouring Arab Gulf states.
“We are working to set up our base with our first office in Qatar where we have a lot of clients and then we are looking at other GCC countries,” he said.
He also hinted at the potential for acquisitions in other markets but said the company will first focus on expanding regionally.
“Injazat could very easily and very soon be an international company delivering services around the world,” said.
Asked when the company intends to make its first big acquisition he said, “I believe within the next six months to a year Injazat will change dramatically.”
