Abu Dhabi's e& enterprise, a subsidiary of technology and telecoms company e&, plans to continue acquiring companies as it broadens its portfolio in the highly competitive digital transformation space, its chief executive has said.
The unit of the technology conglomerate formerly known as Etisalat Group, however, is selective and is not in a hurry to forge mergers or acquisitions. The success of its strategy over the past years has enabled it to grow both organically and inorganically, Salvador Anglada told The National in an interview.
“We have a good track record of acquisitions in the past three years. We were able to acquire very, very interesting companies that we are integrating in our ecosystem,” he said on the sidelines of the Gitex Global technology conference in Dubai on Tuesday.
The company has a strong funding profile and does not require additional financing to fund its growth, Mr Anglada said.
“And this is going to continue for sure. You will see additional acquisitions in the coming quarters because there are areas that we need to improve in the capabilities that we have.”
An initial public offering, however, is not part of e& enterprise’s growth plans at the moment, Mr Anglada said.
Though the company would be ready in “whatever number of years” required for a listing, he said, taking into consideration market conditions and investor appetite.
“The IPO space is something that we have not been even talking about. But we could be ready eventually,” he said.
Industries across the broad spectrum of economies are going through a major transformation with the advent of new technology, prompting adaptation of innovative technologies to streamline and optimise their operations in order to expand consumer bases and add new revenue lines amid intensifying competition.
Digital solutions backed by robust infrastructure and consulting expertise have helped companies and users navigate through an end-to-end digital transformation journey.
The growth in providing essential digital services has been a key driver in e& enterprise's aggressive expansion.
Among its most recent acquisitions are a majority stake in Dubai-based peer-to-peer lending platform Beehive and a 65 per cent stake in Bespin Global MEA, created as a joint venture company with South Korea's Bespin Global.
The moves have allowed e& enterprise to expand its portfolio, both locally and overseas, and reach out to more sectors that in turn gives it access to wider consumer and enterprise bases.
Digital transformation is also an enormous opportunity for both economies and businesses that provide related services.
The global digital transformation market is projected to surpass $7 trillion by 2032, from an estimated $752 billion in 2022, growing at a compound annual rate of more than a quarter, the latest data from Precedence Research shows.
“Technology will be the differentiating factor. Companies will compete based on how they adopt digital technology and that will be a competitive advantage. The ones that are not doing that won't be able to succeed,” Mr Anglada said.
Data and artificial intelligence, the latter of which has evolved into a more powerful iteration with the advent of generative AI, are currently critical factors set for a “big expansion” in the future, he said.
However, the biggest challenge is the adoption of these technologies, including the reskilling of people and their attitudes on how to accept changes, Mr Anglada said.
“You need to implement technologies and you need to change the way that companies are working, the people are working,” he said.
“People cannot be worried about what technologies can do, but how they need to embrace them.”
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Education: Master's degree from American Univeristy of Cairo
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Key figures in the life of the fort
Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.
Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.
Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.
Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.
Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.
Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.
Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.
Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.
Sources: Jayanti Maitra, www.adach.ae
The bio
Date of Birth: April 25, 1993
Place of Birth: Dubai, UAE
Marital Status: Single
School: Al Sufouh in Jumeirah, Dubai
University: Emirates Airline National Cadet Programme and Hamdan University
Job Title: Pilot, First Officer
Number of hours flying in a Boeing 777: 1,200
Number of flights: Approximately 300
Hobbies: Exercising
Nicest destination: Milan, New Zealand, Seattle for shopping
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Favourite place to visit: Dubai, there’s no place like home
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- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
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- Particle size: Larger, heavier sand grains
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Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
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hall of shame
SUNDERLAND 2002-03
No one has ended a Premier League season quite like Sunderland. They lost each of their final 15 games, taking no points after January. They ended up with 19 in total, sacking managers Peter Reid and Howard Wilkinson and losing 3-1 to Charlton when they scored three own goals in eight minutes.
SUNDERLAND 2005-06
Until Derby came along, Sunderland’s total of 15 points was the Premier League’s record low. They made it until May and their final home game before winning at the Stadium of Light while they lost a joint record 29 of their 38 league games.
HUDDERSFIELD 2018-19
Joined Derby as the only team to be relegated in March. No striker scored until January, while only two players got more assists than goalkeeper Jonas Lossl. The mid-season appointment Jan Siewert was to end his time as Huddersfield manager with a 5.3 per cent win rate.
ASTON VILLA 2015-16
Perhaps the most inexplicably bad season, considering they signed Idrissa Gueye and Adama Traore and still only got 17 points. Villa won their first league game, but none of the next 19. They ended an abominable campaign by taking one point from the last 39 available.
FULHAM 2018-19
Terrible in different ways. Fulham’s total of 26 points is not among the lowest ever but they contrived to get relegated after spending over £100 million (Dh457m) in the transfer market. Much of it went on defenders but they only kept two clean sheets in their first 33 games.
LA LIGA: Sporting Gijon, 13 points in 1997-98.
BUNDESLIGA: Tasmania Berlin, 10 points in 1965-66
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Age: 37
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