Abu Dhabi, UAE – 24 April 2023: Maqta Gateway, AD Ports Group’s (ADX: ADPORTS) digital arm, today announced the acquisition of TTEK Inc, a developer of border control solutions and customs systems, to reinforce its market position as a leading digital trade and holistic Single Window solution provider.
The total purchase consideration for the acquisition (Enterprise Value) of 100% ownership amounts to USD26.7 million with an upfront payment of USD17.1 million. The acquisition will extend Maqta Gateway’s existing digital trade solutions portfolio by incorporating border optimisation management solutions, which utilise disruptive technologies such as artificial intelligence, machine learning and advanced risk analytics.
Pretty cool to be a part of the 40th Annual Conference on the Caribbean and Central America in Miami! A great discussion ensued during the 40th CCAA trade panel today...specifically around Electronic Single Window and Risk Management solutions for border processing. We finished the day with a tour of the Port of Miami. -Been here before but no visit today to the "House of Pain"! Hahaha....
