UAE's e& Enterprise Proposes More Acquisitions To Boost Portfolio
As per the CEO, Abu Dhabi's e& enterprise, a subsidiary of technology and telecoms major e&, intends to continue acquiring companies as it broadens its portfolio in the highly competitive digital transformation area.
The unit of the technology conglomerate formerly known as Etisalat Group, however, is selective and is not in a hurry to forge mergers or acquisitions. The success of its strategy over the past years has enabled it to grow both organically and inorganically, Salvador Anglada told The National in an interview, as per thenationalnews
“We have a good track record of acquisitions in the past three years. We were able to acquire very, very interesting companies that we are integrating in our ecosystem,” he said on the sidelines of the Gitex Global technology conference in Dubai.
Mr Anglada stated that the firm has a healthy finance profile and does not require more funds to fund its expansion.
“And this is going to continue for sure. You will see additional acquisitions in the coming quarters because there are areas that we need to improve in the capabilities that we have.”
An initial public offering, on the other hand, is not now part of e& enterprise's expansion ambitions, according to Mr Anglada. He stated that the firm will be ready in "whatever number of years" necessary for a listing, taking into account market circumstances and investor interest.
“The IPO space is something that we have not been even talking about. But we could be ready eventually,” he said.
With the advent of new technology, industries across the broad spectrum of economies are undergoing major transformations, prompting the adoption of innovative technologies to streamline and optimize their operations in order to expand consumer bases and add new revenue lines amid intensifying competition.