ZainTech, the digital solutions powerhouse of the Zain Group, has bought Adfolks, a cloud tech company in the United Arab Emirates (UAE) that offers a range of cloud transformation services.
The acquisition fits in with ZainTech’s long-term plan to grow its customer base and give its growing customer base more technology options.
The deal is part of the Zain Group’s ‘4Sight’ strategy, which aims to change the company from a mobile operator to a multi-core digital ICT business.
Through this purchase, ZainTech will be able to offer its clients in the region a wider range of technology solutions, such as cutting-edge, scalable, and secure cloud-native apps.
Andrew Hanna, the CEO of ZainTech, said, “Combining Adfolks’ expertise and talent with ZainTech’s and Zain’s B2B teams’ resources and capabilities will allow us to drive even more value for our clients in the dynamic and constantly changing technology landscape by streamlining their digital transformation journey, making it easier and more seamless than ever before.”
Read also: ZainTech and Amazon Web Services Have Joined Forces to Facilitate Cloud Adoption in the MENA Region
ZainTech and Adfolks develop cloud and cloud-native tools to help businesses
Adfolks started in 2016, and its goal is to help clients use cloud and cloud-native tools to solve business problems. The business offers unique services that speed up time to value and return on investment by automating technical processes. Adfolks is known for being good at modern infrastructure, application modernization, security, data and machine learning, and automation. It also has a track record of growing businesses by using transformative technologies and fast delivery methods.
Arun Mohan, the founder and CEO of Adfolks, said, “I am excited for Adfolks’ next step with ZainTech. The combined strengths of Adfolks and ZainTech will help us reach our business goals and, more importantly, help our clients. Our clients will benefit from the expertise and new ideas of both companies.
The new deal follows ZainTech’s recent purchase of BIOS Middle East, a leading provider of managed private cloud services in the area.
Since it started in October 2021, ZainTech’s ability to help governments and businesses in the area has grown steadily. Because of this, it has formed many strategic relationships with companies like Microsoft, AWS, ATOS, Oracle, and others. ZainTech’s goal is to offer all of its digital solutions and transformation services under one roof. These agreements help ZainTech reach that goal.
By 2028, 270 million MENA subscribers will have access to 5G
M&A in the MENA
M&A stands for “mergers and acquisitions,” which is when two businesses become one. During a merger, one company buys another and folds it into its own business. Even though the world economy is getting worse, M&A activity in MENA grew by 13% in 2022, with 754 deals worth $82.5 billion. The growth is due to better market conditions, business reforms, and fewer restrictions on travel, all of which gave investors more trust.