Egypt’s Advanced Computer Technology (ACT) Company posted that it is planning to launch new firm, ACT Holding, before the end of this year.
Hazem Mansy, ACT’s head of the marketing department, said Sunday that ACT Holding would include nine affiliates operating in the fields of information technology and communications, with a capital of 200 million Egyptian pounds ($11.1 million).
Mansy further added that ACT Holding’s total number of employees would range between 800 and 1,000 in 2020, with an increase of more than 400 employees.
This step comes in light of the recent increase of the company’s business volume locally and regionally, notably in oil and hospitality sectors, Mansynoted.
“We have earlier increased our capital by 50 percent, turning itself into a holding company with an expansion scheme,” the Egptian official noted.
ACT is engaged in the implementation of many projects in several countries, including Nigeria, Kenya, Mauritius, the United Arab Emirates (UAE), Saudi Arabia, Oman, Qatar, Bahrain, Tunisia, Morocco, and Japan.
The holding company will include under its umbrella ACT Integration Systems, Advance Global Service, ACT Pride, and another company operating in application development, added Mansy.
This fourth company is to follow the success of previous applications, such as Maestro and Piano, which target the European, African, and Arab markets. Meanwhile, a fifth company will specialise in the field of new technologies, such as the Internet of Things and Big Data.
The rest of the companies operate in training and consulting for other companies. They will aim to help them achieve digital transformation.