IHC, International Holding Company, acquired a 54% stake in Emircom, an information and communications technology (ICT) provider, through its subsidiary, IHC Digital in an AED 250 million deal, which accounts for almost $68 million.
This AED 250 million transaction comes as part of the IHC’s group strategy to grow its digital assets portfolio and expand into new growth areas.
“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,” Hussain Jasim Al Nowais, Chairman of Al Nowais Investments and Emircom’s shareholder said.
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