Intracom calls for regional expansion

The US$609 million Greek telecom and banking solutions vendor has announced its regional expansion by shifting its regional headquarters to Dubai Internet City (DIC) and expanding its portfolio of solutions available to regional customers.

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By  Maddy Reddy Published  November 30, 2004

The US$609 million Greek telecom solutions vendor has announced its regional expansion with a series of key moves including shifting its regional headquarters to Dubai Internet City and expanding its portfolio of solutions available to regional customers. Intracom, which provides banking, telecommunications, information and defense electronic systems has already signed up regional customers including Etisalat, Thuraya, DIC, PTCL in Pakistan, Saudi Telecom (STC) in the Kingdom, Beirut-Riyadh bank in Lebanon for its Profit banking solution besides YemenTel for pay phone services. “We are looking to offer regional telcos and banks our decision support systems. Most of them already have the basic infrastructure in place, but they are trying to differentiate through customer loyalty systems, better service systems and integrating them. We are actively participating in such project tenders and even in Iraq for the reconstruction projects,” says Stavros Vougas, managing director, Intracom Middle East. Founded in 1977, Intracom is the largest manufacturer of telecommunication equipment and information systems in Greece. In 1990, the company was listed on the Athens Stock Exchange and in the 90’s set up offices across Europe and North America. At present Intracom in the region operates directly to offer design, manufacturing, turnkey project implementation and technical support in a number of key areas including public telecom networks, public telephony and smart card systems and digital satellite applications. Both Vougas and Jorge Soto, new sales director for the Gulf and Subcontinent say with most markets in the Middle East liberalising their telecom sector all through next year, the market potential is huge. Soto adds that by having a direct physical presence here Intracom can expand its regional market share from the current 2%. Intracom has managed to sign €459 million (US$609 million) worth of new contracts in 2004. Currently more than 45% of the company’s annual turnover is generated by exports and in the next few years that figure is expected to reach 50%. The Greek vendor also plans to increase its local head count to around 23 staff members next year besides sign up systems integrators and partners and localise its banking applications to support Islamic Banking. “DIC’s infrastructure and reputation as the regional hub for technology and telecommunications make it the ideal choice for any growing IT company. By shifting our headquarters to DIC, we’re reinforcing our confidence and commitment to the region, one that holds incredible prospects for the future,” adds Jorge Soto.

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