Al-Futtaim Group acquires software solutions firm

As part of the deal, Futech Software Solutions will now operate independently under Al-Futtaim Technologies.

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By  Vineetha Menon Published  August 18, 2008

Al-Futtaim Group has acquired Futech Software Solutions - an integrated IT focused business service provider based in Dubai.

Founded in 2006, Futech operated in verticals such as banking and finance, including Islamic banking while its horizontal business offerings covered areas such as data warehousing and IT modernisation. Prior to the acquisition, Al-Futtaim partnered with Futech on various projects including a recent Dubai Bank CRM project where Futech acted as the system integrator.

Futech will operate independently as a strategic business unit under Al-Futtaim Technologies. The Group will use Futech’s expertise in the business IT advisory space to provide customers with a comprehensive range of business solutions.

“The combination of strengths inherent in the two entities represents an enormous opportunity for users and organisations of all sizes seeking innovation, growth and choice,” said Vishesh Bhatia, group director (Electronics, Engineering & Technologies), Al-Futtaim Group.

“We will now be able to accelerate investments, meet a wider set of customer needs through a richer solution set resulting in a significantly better opportunity to grow into new markets. This broadens our product portfolio, enabling us to deliver end-to-end business IT solutions across all sectors,” Bhatia added.

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