Octagon International, one of the fastest-growing IT distributors in the Emirates today announced the sale of a majority stake to a consortium of private equity investors. The deal represents one of the largest private equity investments in the UAE’s IT distribution industry over the past several years and signals a return of confidence to a sector battling to revert to profitability following a period of sustained market turbulence.
Sukant Mishra, CEO, Octagon International, said: “This transaction has provided a great boost to Octagon International and demonstrates a solid endorsement of our business model, industry leadership and financial strength. Octagon International will continue to provide superior value to our customers and partners, through our world-class sourcing and logistics capabilities. We look forward to continue providing the highest levels of service our partners are accustomed to, by significantly expanding our product range and market reach in the coming year.”
Sukant further added that, “The injection of additional capital into the company will allow us to further expand during such challenging times for the IT industry. Looking forward, we are exploring possibilities of acquiring additional distribution rights as well as investing into service capabilities and help the company become one of the strongest players in this market.”
