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Al Futtaim acquires Futech Software

DUBAI — Al Futtaim Group announced the acquisition of Dubai-based Futech Software Solutions, according to a Press release issued on Monday.

Futech operates in verticals such as banking and finance including Islamic banking. The company has several horizontal business offerings covering areas such as data warehousing, data cleansing and IT modernisation. The Group will use Futech's expertise in the business IT advisory space to provide customers with a comprehensive range of business solutions. The acquisition is seen as a catalyst in the acceleration of Al Futtaim Group's leading position in enterprise IT.

Vishesh Bhatia, Group Director (Electronics, Engineering & Technologies), Al Futtaim Group said: "The combination of strengths inherent in the two entities represents an enormous opportunity for users and organisations of all sizes seeking innovation, growth and choice. It also creates a company with substantial scale and resources to deliver industry leading products and services that address the rapidly expanding business optimisation market.

"There are very few specialised boutique companies around who have an impressive list of deliverables and satisfied clients. We will now be able to accelerate investments, meet a wider set of customer needs through a richer solution set resulting in a significantly better opportunity to grow into new markets. This broadens our product portfolio, enabling us to deliver end-to-end business IT solutions across all sectors," he added.