ZainTech has acquired Adfolks, a UAE-based cloud-native engineering firm that provides a range of cloud transformation services. Financial terms of the deal were not disclosed.
This is technology M&A deal number 166 that ChannelE2E and MSSP Alert have covered so far in 2023. See more than 2,000 technology M&A deals for 2022, 2021, and 2020 listed here.
ZainTech Acquires Adfolks to Expand Technology Services
ZainTech, a portfolio company of Zain Group, was founded in 2021 and is based in Dubai. The company has 127 employees listed on LinkedIn. ZainTech’s areas of expertise include Cloud, IoT, Cybersecurity, Big data and analytics, Drones, Digital products , Digital solutions, Smart cities, Digital transformation, and Robotics.
Adfolks, founded in 2016, is also based in Dubai. The company has 63 employees listed on LinkedIn. Adfolk’s areas of expertise include Big Data, Real Time Analytics, Churn Analysis, Data Lake Building, Anomaly Detection, Big Data Strategy, Vendor Agnostic Cloud Infrastructure, Machine Learning, UI/UX, Data Driven Decision Management, Swift Digitalization, Customer Data Platform, MDM, Cognitive, marketing analytics, Overall Data solution, kubernetes, CNCF, and platform.
ZainTech says the deal is part of its overall strategy to expand its technology services as it seeks to transform from a mobile operator to a multi-core digital ICT entity. This acquisition will also expand ZainTech's technology services portfolio, including innovative, scalable, and secure cloud-native applications and other technology solutions for its clients across the region, it said.
Adfolks is a Microsoft Azure Cloud Gold Managed Partner, AWS Select Partner, and GCP Consulting Partner. The company’s team will join ZainTech, the companies said.
ZainTech Acquires Adfolks: Additional Insight
Andrew Hanna, CEO, ZainTech, commented:
"Combining Adfolks' expertise and talent with ZainTech's and Zain’s B2B teams’ resources and capabilities will enable us to drive even more value for our clients in the dynamic and constantly evolving technology landscape by streamlining their digital transformation journey, making it simpler and more seamless than ever before."
Arun Mohan, founder, Adfolks, said:
"I am excited about this next chapter for Adfolks with ZainTech. The combined strength will be a value not only to our respective business objectives but most importantly to our clients who will benefit from the combined expertise and innovation of Adfolks and ZainTech."
