Home » ‘Maqta Gateway acquires controlling interest in Dubai Technologies’

‘Maqta Gateway acquires controlling interest in Dubai Technologies’

by Dubaiforum

Maqta Gateway, the digital arm of AD Ports, has acquired a 60 per cent stake in Dubai Technologies, a developer of trade and transportation solutions. The total purchase consideration for this acquisition is AED28 million (.6 million).

Dubai Technologies demonstrated strong financial performance in FY2023, with revenues of AED70.5 million (.1 million) and EBITDA of AED8.4 million (.2 million). The company has developed an intelligent port operations management platform called Minato, along with four transport platforms and nine white-label products for regional government agencies.

Minato is currently being used by international port operators and features advanced digital twin technology for ports. The platform includes fleet management, passenger transportation, smart driving analytics, and waste transportation management, which can improve logistics efficiencies in hinterland and industrial zones.

With this acquisition, Maqta Gateway aims to expand its digital trade portfolio, enhance its in-house capabilities, and strengthen its position as a developer of cutting-edge digital trade solutions. Capt. Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, stated that this move aligns with the company’s strategic plans to provide integrated digital trade solutions and critical technologies to core markets.

Dr. Noura Al Dhaheri, CEO of Digital Cluster and CEO of Maqta Gateway, AD Ports Group, highlighted Dubai Technologies’ decades of expertise in delivering trade and transportation solutions. The acquisition is seen as a milestone in Maqta Gateway’s journey to becoming a global trade facilitator under the guidance of wise leadership.

Founder of Dubai Technologies, Ahmed Alrafi, supported the acquisition and expressed excitement about the opportunities it will bring to connect people and create smarter, sustainable solutions. The founder will retain a 40 per cent stake in the company, and the existing leadership team will continue to manage the company to achieve strategic growth plans.

Earlier this year, AD Ports Group’s Maqta Gateway signed a shareholder agreement with Aqaba Development Corporation (ADC) to establish Maqta Ayla, a joint venture aimed at implementing a port community system at the Port of Aqaba.

You may also like

About Dubai Forum

Dubai Forum: your daily source for the latest news from Dubai, the United Arab Emirates, and the broader Middle East region. Our coverage includes updates on people, lifestyle, communities, business, startups, and finance, keeping you informed on all facets of the dynamic Dubai scene. #Dubaicommunities #people #travel #startups #DubaiForum