Maqta Gateway, AD Ports Group’s digital arm, has announced the full acquisition of TTEK Inc, a developer of border control solutions and customs systems.
The 100 per cent stake of TTEK Inc has cost Maqta Gateway $26.7 million with an upfront payment of $17.1 million.
The acquisition will extend Maqta Gateway’s existing digital trade solutions portfolio by incorporating border optimisation management solutions, according to AD Ports.
The optimisation solution is expected to utilise technologies such as artificial intelligence (AI), machine learning and advanced risk analytics.
TTEK’s solutions merge deductive and inductive analytics with predictive modelling to form a powerful machine learning platform for customs, immigration, policing, and border agencies. In addition, they use more than 1.5 million risk indicators and AI predictive modelling to establish more reliable border security controls.
Maqta Gateway aims to leverage TTEK’s R&D hub in Vietnam and its expertise in customs and border modernisation solutions across Africa, Middle East, North America, and Australia.
AD Ports hopes that this will strengthen its digital subsidiary’s service offering on the unified Single Window solution and expand it internationally with enhanced security, tracking, and regulatory enforcement.
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Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said: “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.
“TTEK’s existing trade expertise in the Middle East supports the Group’s ambition to widen its digital trade solutions within the region. The near-term pipeline includes international markets that are strategically important to the Group.”
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The transaction is subject to completion of condition precedents within the next 45 days.
In November 2022, Maqta Gateway, Emirates Post Group, and aerial logistics provider, SkyGo, signed a Memorandum of Understanding (MoU) to provide aerial drone delivery services in Abu Dhabi.
In December of last year, the Group singed two agreements with Kyrgyzstan, the second of which saw Maqta Gateway initiate a strategy for developing a customs and border management solution, infrastructure, and national single window for deployment in Kyrgyzstan.
