DB Capital Partners doubles stake in Interactive Limited

DB Capital Partners, the private equity arm of Deutsche Bank AG, one of the world’s largest financial institutions, today announced that it has acquired a more than 36% interest in Interactive Limited, a global provider of e-business solutions.

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By  Massoud Derhally Published  February 4, 2002

DB Capital Partners, the private equity arm of Deutsche Bank AG, one of the world’s largest financial institutions, today announced that it has acquired a more than 36% interest in Interactive Limited, a global provider of e-business solutions.

DB Capital, which held an 18% stake in the company, doubled its equity interest through the purchase of the equity held by Armada Partners, making it the controlling investor. Interactive Limited, based in Dubai Internet City, is a provider of software and integrated IT solutions. Terms of the transaction were not disclosed.

“DB Capital Partners is committed to helping Interactive build on its already strong market position in the IT sector in the Middle East,” said Pierre Suhrcke, Managing Director of DB Capital Partners.

“The company’s excellent management team has an outstanding track record and is rapidly achieving its revenue and profit targets through expansion into new markets. The entire Middle East region is poised for dynamic growth in many segments of technologically based industries, and Interactive will participate in that upward trend.”

Ziad Tassabehji, founder and CEO of Interactive Limited, explained: “Our strategic relationship with Deutsche Bank began in February 2001. Less than one year later, we are delighted that, despite a difficult market environment, DB Capital Partners has confirmed its confidence in Interactive’s future and our advanced technology by increasing its equity in the company. Their timely support will enable us to achieve our ambitious expansion plans in the region.”

Interactive is currently implementing a targeted geographic expansion and broadening of its principal products and services. Interactive’s expanded offerings will include business consulting through multi-media design and marketing, as well as technology development and system integration. The company is also executing its plan to provide strategic services in the fields of e-banking and e-government, two of the largest markets for IT spending in the Middle East.

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