Optimiza Acquires Gulf Electronics for Technical Solutions (G-Tech)

Optimiza continues to grow locally and regionally

(Amman, Jordan, October 2007) – Optimiza (Al-Faris National / (ASE:CEBC), a regional technology solutions and management consulting services company, has finalized the acquisition of Gulf Electronics for Technical Solutions (G-Tech) in the Kingdom of Saudi Arabia. G-Tech is specialized in Information Technology and delivering hardware solutions and support services to a distinctive list of clients operating in different sectors in Saudi Arabia.

Optimiza considers this step as a strategic move to consolidate its presence in the Saudi market, after having acquired “Aregon” consulting, with a registered branch in the Kingdom of Saudi Arabia through (SAGIA). This acquisition will strengthen Optimiza’s management consulting and Information Technology offerings in Saudi Arabia, and the strategic partnership with DELL.

Optimiza’s CEO Mr. Hazem Malhas commented on this acquisition by saying:” We are committed to building a strong local presence in the Saudi market in order to best serve our clients in Jeddah, Riyadh and Damam and all the areas of the Saudi Kingdom in the field of Information Technology.

G-Tech distributes “DELL” hardware products and the German “Geha” company audiovisual aid equipment in Saudi Arabia. Through its services and products, G-Tech has succeeded in managing and executing projects for various sectors including banking, insurance, manufacturing and distribution, government and education. The company has offices in Riyadh and Jeddah.

This acquisition falls in line with Optimiza’s growth strategy of continual acquisition of local and regional companies in the fields of management consulting, IT solutions and services, training and outsourcing. It will also help Optimiza to improve its capability of serving its clients in the best way possible by maintaining local and regional presence.