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…
We were in Washington DC May 24th to attend this important IDB workshop. The plan was to exchange and share knowledge on regional and extra-regional experiences, successes, and challenges facing border integration operations.
There was a healthy discussion to identify dimensions and context that can contribute towards an overall program for the development and implementation of integrated border operations, trade facilitation, and customs Modernization. TTEK makes a nice fit. We're very happy to be taking part and adding value.
Jan 30-Feb 3 TTEK is in Haiti to assist in delivering a workshop on customs risk management. Assisting USAID and Nathan Associates, TTEK is helping to add value by promoting risk management principles for border management, and systematic approaches for targeting and selectivity of high risk commercial shipments.
See below image of the Day 1 session being led by Nathan Asociates expert Steve Letourneau. Great job Steve!
