Abu Dhabi-based IHC acquires majority stake in Emircom for Dhs250m to expand digital portfolio

Abu Dhabi-based conglomerate International Holding Company (IHC) has acquired a 54 per cent stake in Emircom, an information and communications technology (ICT) provider, through its subsidiary, IHC Digital.

The Dhs250m transaction comes as part of the IHC’s group-wide strategy to grow its digital assets portfolio and expand into new growth areas.

Established in 1984, Emircom has strategic partnerships with many prominent players in the ICT segment, including Cisco and Oracle as a ‘Gold Certified Partner’, Dell as a ‘Titanium Partner’, as well as Palo Alto, Fortinet, F5, Software AG, Microsoft, SAS, Huawei, Schneider and HP.

With a range of infrastructural projects to its credit, the company operates across the Middle East region specialising in ICT to provide end-to-end digital solutions.

Syed Basar Shueb, IHC’s CEO, said: “We shall continue to seek further acquisitions in different industries, including the ICT area, building on our well-established track record of acquiring high-value and profitable investments that benefit our shareholders in the short- and long-term. This acquisition of a majority stake in Emircom will help IHC Digital to continue deepening its profitability and depth in the sector.“

Hussain Jasim Al Nowais, chairman of Al Nowais Investments and Emircom’s shareholder said, “This acquisition brings a new dimension to Emircom, as well as adds further scale to our business growth plans in the Middle East market. It is a testament to the Emircom team that we have received such a strong endorsement from IHC Digital, a key strategic subsidiary of International Holding Company. We are delighted our partnership will be further enhanced following this acquisition.”

In other news, IHC recently acquired a 15 per cent stake in Burjeel Holdings. The acquisition will scale and diversify IHC’s investment in the healthcare sector locally and regionally.

Read: Abu Dhabi-based IHC acquires 15% stake in Burjeel Holdings