Omnix International has announced that Havenvest Private Equity Middle East Limited (formerly known as HSBC Private Equity Middle East), based in Dubai, UAE, and Al-Rashed Group, based in Riyadh, Kingdom of Saudi Arabia, have jointly arranged the acquisition of a significant minority shareholding in Omnix International.
Omnix International was established in the UAE in 1987, and has since grown to become a leading IT systems integrator in the GCC. It partners with global technology companies to deliver end-to-end technology solutions for the region’s government, healthcare, telecommunications, finance, and hospitality sectors, primarily through its offices in the UAE, the Kingdom of Saudi Arabia, and Qatar.
The Middle East is considered a high growth market for IT solutions as the region is witnessing increased adoption of project based IT services by enterprises of all sizes. The impact of the new shareholding would further instill best practices, and position Omnix International to absorb the growth that can be achieved going forward.
Havenvest Private Equity is a leading private equity firm investing across the GCC in high-growth businesses. It was originally set up as the private equity arm of HSBC Bank in the region, and has recently been re-branded as Havenvest following the restructuring of HSBC’s interests in the management company.
Al-Rashed Group is a business conglomerate based in the Kingdom of Saudi Arabia with multiple business interests including diversified operating subsidiaries across the MENA region, real estate exposure and global investment reach.
Following the sale, Omnix International has formed a new Board of Directors to oversee the implementation of the company’s strategic growth plan. Demonstrating confidence in the company’s direction, Jamal Abu Issa remains the Chairman of the Board and CEO of Omnix International.
Jamal Abu Issa, Chairman of the Board and CEO, Omnix International, said: “Since 1987, Omnix International has grown to become one of the most successful home-grown system integrators in the region, and has achieved stable growth across its multiple service offerings.”
The company currently delivers a range of technology solutions in the fields of computer-aided engineering; professional audio visual; public services; strategic enterprise management software; and networking, security and voice services.
Omnix International has partnered with global technology companies such as Autodesk, IBM, Oracle, SAP, HP, InFocus, Extron Electronics and Saperion, The company’s IT solutions are based on an “open system” philosophy and can be easily integrated into existing infrastructures.
Jamal Abu Issa, Chairman of the Board and CEO, Omnix International, said: “Our partnership with the new institutional shareholders should strengthen our core strategy of delivering quality and reliable services to customers in GCC markets, while providing new growth opportunities for our employees. It is our belief that an investment in the equity capital of Omnix should deliver long-term value for our shareholders.”
Eyad Mashal, Managing Director-Investments, AlRashed Group, said:”Omnix International has an established presence in Saudi Arabia, and has executed several sophisticated IT projects for high profile public sector clients. We are confident that Omnix will continue to deliver on the high expectations of the Kingdom’s customers.”
