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.
Over the last three years, the innovative and disruptive start-up TTEK has built and delivered next-generation technologies for Customs and border management. Utilizing modern risk management principles, TTEK’s analytical solutions have established a unique ability to identify potential threats and flag highrisk people, goods, and conveyances for closer scrutiny or inspection; all the while simultaneously promoting the movement of pre-approved and/or low-risk trade…
