AD Ports Group announced that Maqta Gateway, its digital arm and enabler of cutting-edge trade digitalisation solutions, has acquired a 60 per cent equity stake in Dubai Technologies, a trade and transportation solutions’ developer headquartered in Dubai.
The total purchase consideration for the 60 per cent shareholding amounts to AED 28 million.
The company’s FY2023 financial performance recorded revenues of AED 70.5 million and EBITDA of AED 8.4 million.
The company has developed an intelligent ports’ operations management platform - Minato®, four transportation platforms, and nine white-label solutions that are custom-built for regional digitally focused government bodies. All solutions are built in-house by the company’s 300+ team members working collaboratively across the UAE and India.
Minato® is currently 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 the Group with its gradual implementation across all international ports managed by AD Ports Group.
The company’s transportation platform comprises of fleet management, passenger transportation, smart driving analytics, and waste transportation management, which can be leveraged by the Group to enhance logistics’ efficiencies in hinterland and industrial zones’ operations.
Besides broadening its digital trade portfolio, with this acquisition Maqta Gateway will extend its inhouse capabilities, realise cost synergies and further strengthen its position as the developer of leading-edge digital trade solutions. Their offshore development expertise will be of great value as Maqta Gateway continues to expand internationally. Maqta Gateway has an R&D hub in Vietnam following the successful acquisition of TTEK Inc.
