Abu Dhabi: Maqta Gateway, the digital arm of AD Ports Group, has acquired TTEK Inc, a company known for its border control solutions and customs systems. The acquisition aims to strengthen Maqta Gateway’s position as a prominent digital trade provider and a comprehensive Single Window solution.
The acquisition’s enterprise value for obtaining 100 percent ownership is $26.7 million, with an initial payment of $17.1 million. Incorporating border optimization management solutions that utilize cutting-edge technologies like artificial intelligence, machine learning, and advanced risk analytics will expand Maqta Gateway’s digital trade solutions portfolio through the acquisition.
TTEK’s machine-learning platform for customs, immigration, policing, and border agencies merges deductive and inductive analytics with predictive modeling to create a robust solution. With over 1.5 million risk indicators and AI predictive modeling, TTEK’s solutions establish dependable border security controls.
Maqta Gateway intends to utilize TTEK’s R&D hub in Vietnam and its vast proficiency in customs and border modernization solutions across Africa, the Middle East, North America, and Australia. This partnership will enhance Maqta Gateway’s service offering on the unified Single Window solution, with improved security, tracking, and regulatory enforcement. Additionally, it will enable Maqta Gateway to expand its services globally.
Mr. Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, stated that, “The acquisition of TTEK Inc. will bring near-term and sustained synergistic benefits to AD Ports Group, including fast time-to-market delivery and significant sector expertise. The comprehensive custom Single Window solution provided through this acquisition has high demand in international markets, including Central Asia.”
The transaction’s completion depends on fulfilling the condition precedents within the next 45 days.