Amman, July 2008 – Optimiza (Al-Faris National / (ASE:CEBC) recently announced the completion of a transaction that brings in Saudi based Al Malaz Group as a strategic partner through acquiring 6% of Optimiza’s traded shares on the Amman Stock Exchange.
The transaction comes as part of Al Malaz Group’s interest in strengthening its strategic partnership with Optimiza by investing in the growing IT sector, especially after Optimiza’s 70% acquisition of Royah last June, a company that was solely owned by Al Malaz Group. This agreement comes as part of the strategic cooperation between Al Malaz Group and Optimiza; one that focuses on investing in the IT and consulting sectors in the Middle East region in general, and KSA in particular, as a direct response to the market’s growing needs.
Al Malaz Group enjoys a leading position in the region, highlighted by its investments in the IT sector. These investments include several companies, one of which is Royah, in addition to the fact that it manages a 250 Million Saudi Riyal ICT-specialized investment portfolio.
On this occasion, Dr. Abed Al Alziz Al Jazzar, Executive Partner of Al Malaz Group, expressed his pride and trust in this partnership as being a reflection of Optimiza’s continuous growth and success across the region. He also focused on Optimiza’s renowned ability in providing the latest management consulting, IT solutions and services, training and outsourcing, all of which are continuously bolstered by Optimiza’s thriving expansion plans on a regional scale.
From his side, Mr. Hazem Malhas, CEO of Optimiza, expressed his pleasure at this accomplishment by saying: “We are proud of having Al Malaz Group on board as a strategic partner, since it holds a prominent investment experience and deep knowledge of the markets’ needs in the region. This in turn will contribute to enhancing Optimiza’s services and solutions on all levels.
He added: “This partnership is considered a valuable asset to Optimiza’s journey, and we perceive it as an incentive to multiply our efforts into developing our IT and consultancy solutions for the different sectors we serve, particularly in Saudi Arabia.”
It is worth noting that Optimiza is the first technology solutions and management consulting services’ company listed on Amman Stock Exchange. Its strategy is based on growth through acquiring and merging pioneering regional companies, to be able to provide integrated solutions targeted at serving big companies and projects in the different economic sectors.