Meta Group to expand regional operations
The US$122 million IT research firm Meta Group has announced plans to expand its operations in the Middle East and set up its wholly owned subsidiary.
The US$122 million technology research firm Meta Group has announced plans to expand its operations in the Middle East.
To strengthen its local market presence Meta Group is currently in the processing of buying out its local distributor. “We’re in the process of taking over the operations from Zaim Azrak, our distributor. In the next few weeks, we’ll operate as a wholly owned subsidiary of Meta Group Inc,” says Todd McGregor, the new general manager for Meta Group Middle East. Kamran Iqbal the country director for UAE, Oman and Qatar will report to the general manager.
Into its fourth year of operations in the region, Meta Group has signed up with customers such as ADNOC, EPPCO, ARAMCO and Emirates Airlines. Globally, the 15-year old research firm has more than 250 analysts, but in the region has only one analyst, based in Dubai. The company hopes to change that, by increasing its analyst count, conducting more road shows and ‘CIO boot camps’ in 2004 to increase its market share.
Meta Group earns its revenue from selling technology research reports and advisory services to companies. Most firms such as Gartner, Forrester, IDC and Meta Group have faced a slump in revenues in the last three years of operations after the dotcom bust, recession in IT spending and increased competition from the big consulting firms such as McKinsey, Accenture and PWC, which now offer similar IT-research and consulting with their business services, while the IT vendors such as IBM, Microsoft, Sun, EDS and others have expanded to offer consulting services bundled with their products.
Meta Group however believes, that with recovery on its way in 2004 the prospects are good. The company has sales offices in Dubai, Kuwait, Cairo and Riyadh in the Middle East.