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.
On Wed May 18, 2016 TTEK presented and led a discussion on the topic of "Exploiting Data to Optimize Border Management" to the Caribbean Customs Law Enforcement Council (CCLEC) at the annual conference in Kingston, Jamaica. The presentation prompted many questions from the CCLEC group with discussions on new methodologies around risk management, watch-list vetting, passenger profiling, declaration processing, and electronic single window.
We were so happy to be invited to this year's annual Caribbean Customs Law Enforcement Council's (CCLEC) Annual Conference. Today TTEK was asked to contribute to a workshop on "Customs Rightful Place and Role in the National Border and Security Architecture".
Facilitated by members from the Netherlands and Canada (by friends Steve Edgerton and Rob Van Kuik), a great discussion ensued from CCLEC representatives from Jamaica, Monseratt, Turks and Caicos, and the Cayman Islands and more. Great progress was made on multi-lateral interoperability.
It was nice to be a part of this project and see a "real" electronic single window come together with actual process and functions for Customs and nearly 30 Other Government Agencies! Congratulations to Dan Rochon, Salvador Duart, Terry Bascombe, Delano Scantlebury, Susan, Ricardo, Barry Desmoreaux, Mark McCutchan and the rest of the team at the Barbados Competitiveness Program. This is a great benchmark for other countries to consider because it truly is the best ESW I've seen globally. Here's the press release:
http://www.barbadosadvocate.com/news/move-improve-trade-processes
