Al-Futtaim strengthens IT portfolio with acquisition of Futech

Dubai: Al-Futtaim Group announced the acquisition of Dubai-based Futech Software Solutions, an integrated Information Technology-focused business service provider.

Futech operates in verticals such as banking and finance including Islamic banking. The company has several horizontal business offerings covering areas such as data warehousing, data cleansing and IT modernisation.

The Group will use Futech's expertise in the business IT advisory space to provide customers with a comprehensive range of business solutions. The acquisition is seen as a catalyst in the acceleration of Al-Futtaim Group's leading position in enterprise IT.

Founded in 2006, Futech will operate independently under the Group structure as a strategic business unit under the Al-Futtaim Technologies umbrella. Al-Futtaim Technologies is one of the region's leading systems integrators and a part of the Group's Electronics, Engineering and Technologies division.

Vishesh Bhatia, Group Director (Electronics, Engineering & Technologies), Al-Futtaim Group said: "The combination of strengths inherent in the two entities represents an enormous opportunity for users and organisations of all sizes seeking innovation, growth and choice. It also creates a company with substantial scale and resources to deliver industry leading products and services that address the rapidly expanding business optimisation market.