Majority stake in Dubai Technologies acquired by Maqta Gateway
- Majority stake in Dubai Technologies was acquired by Maqta Gateway, 60% of the company.
- The company recorded revenues of AED70 million for the year 2023.
- The company recognizes the importance of adopting advanced technologies and innovative solutions to revolutionize the future of global and regional trade.
On February 6th, 2024, AD Ports Group announced that its digital arm, Maqta Gateway, has acquired a Majority stake, 60% equity in Dubai Technologies, a Dubai trade and transportation solutions developer.
The total purchase consideration for the 60 percent shareholding amounts to AED 28 million.
The company recorded revenues of AED 70.5 million and EBITDA of AED 8.4 million for FY2023.
The company has created a platform for managing port operations called Minato®. In addition, they have developed four transportation platforms and nine customized solutions for digitally-focused government agencies at the regional level.
These solutions have been developed in-house by the company’s 300+ team members who work collaboratively across the UAE and India.
Minato® is a technology that port operators are currently using across the globe. It includes an advanced digital twin technology that is sought after in the port industry. Its addition to Maqta Gateway’s existing single window offering for port digitalization will be highly beneficial.
Furthermore, the gradual implementation of Minato® across all international ports managed by AD Ports Group will lead to cost synergies for the company.
The company’s transportation platform includes fleet management, passenger transportation, smart driving analytics, and waste transportation management.
This can be utilized by the group to improve logistics efficiency in both hinterland and industrial zones’ operations.
Maqta Gateway, a company specializing in digital trade solutions, has acquired to broaden its portfolio in this area. This move will also extend its in-house capabilities, realize cost synergies, and strengthen its position as a developer of digital trade solutions.
The offshore development expertise of the acquired company will be of value as Maqta Gateway expands internationally. Additionally, Maqta Gateway has set up an R&D hub in Vietnam, following its acquisition of TTEK Inc.
Captain Mohamed Juma Al Shamisi, the Managing Director and Group CEO of AD Ports Group, stated that the company has recognized the importance of keeping up with advanced technologies and utilizing innovative solutions to reimagine the future of trade on a regional and global scale.
This aligns with the vision of their leadership. The recent acquisition of new technologies reflects the company’s plans to enhance AD Ports Group’s position as a provider of integrated digital trade solutions to core markets and increase self-reliance on critical technologies for their business.
