Dubai: The deal making spree by AD Ports Group continues, with its digital entity Maqta Gateway buying 60 per cent stake in Dubai Technologies, a trade and transportation solutions’ software developer. The purchase value amounts to Dh28 million.
In 2023, the company had revenues of Dh70.5 million and EBITDA of Dh8.4 million. Dubai technologies developed a ports’ operations management platform - 'Minato', four transportation platforms, and nine white-label solutions custom-built for regional digitally-focused government bodies. These were developed in-house by the company’s 300+ team members working in the UAE and India.
A good fit
Minato is utilised by international port operators and includes the 'highly coveted advanced digital twin technology for ports'. "It will be a great addition to Maqta Gateway’s inhouse single window offering for ports’ digitalisation, in addition to realising cost synergies" for AD Ports Group, said a statement.
"We at AD Ports Group have long realised the significance of keeping pace with advanced technologies and making the best of advanced solutions to reimagine the future of trade," said Capt. Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group.
"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."
Dubai Technologies, which has been operational for 30 years plus now, was founded by Ahmed Alrafi, who will continue to retain 40 per cent. He will also remain in management to 'deliver on strategic growth plans'. “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."