1st Jul 2019 14:34
(Alliance News) - Symphony International Holdings Ltd on Monday said, through its subsidiary, it has invested in Creative Technology Solutions DMCC, in which it now holds less than 1% interest.
The company did not disclose any financial details of the deal.
Creative Tech provides hardware, software, maintenance and training support to the education sector in the United Arab Emirates.
The investment company said the investment opportunity was introduced by Samer Alsaifi, who joined Symphony's board as an independent director earlier this year.
"Creative Tech will represent our first investment in the Gulf Cooperation Council region and within the education space, which is a key sector for Symphony," said Symphony Director Anil Thadani.
"We are excited to work with Basem and Haissam who have a strong track record for building successful businesses in and outside the Middle East," added Thadani.
Symphony shares were trading 0.4% higher on Monday at USD0.60 each in London.
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