In a strategic move, the Omani company specialized in customer data analysis and multi-channel communication, Promaize, announced its acquisition by T2, the leading company in research, business development, and digital transformation in Riyadh, to enhance its position in digital innovation.
The acquisition agreement was signed by Saif Al-Issaie, Co-founder and CEO of Promaize, and Mamdouh Al-Aqeel, CEO of T2, in the presence of Dr. Ali Al-Shidhani, Undersecretary of the Ministry of Transport and Communications for Communications and Information Technology, and the accompanying Omani delegation. This took place during Oman’s participation in the “Leap 2024” global tech conference held in Riyadh, Saudi Arabia, from March 4th to 7th, 2024.
Saif Al-Issaie, CEO and Co-founder of Promaize, stated, “The innovative technological solutions and exceptional technology built within Promaize will accelerate T2’s expansion process, enabling it to serve a new segment of customers and meet their needs, focusing heavily on enhancing user experience in applications.
” He added, “Today, we are proud to be part of the success story of the pioneering business sector in Oman, as Promaize represents the second successful acquisition by a Saudi company of an Omani company.”
Promaize was founded in 2022 and has achieved significant success in the sector by building a sophisticated and competitive system distinguished by its exceptional capabilities to facilitate analysis and communication operations effectively.
Reports indicate that the company has successfully handled billions of data points daily, thanks to its speed of transmission and effective technology that aligns with the needs of major enterprises and government entities in the Kingdom.
Additionally, Saheeb Badr, Co-founder of Promaize, added, “Our strategy at Promaize has always been closely linked to T2’s products. Promaize was launched with a pre-built integration with T2’s ‘Massajat’ service, and in recent weeks, Promaize has been integrated with three other products, ensuring greater integration and value for T2’s customers.”
Mamdouh Al-Aqeel, CEO of T2, stated, “The integration of Promaize into our operations represents a turning point for T2, aligning with our mission to deliver exceptional value to our customers.”
It is worth mentioning that T2 provides technological and software products and solutions to facilitate business for prominent government entities and private companies in the Kingdom, with revenues exceeding 600 million Saudi Riyals in 2023.
This acquisition is part of T2’s long-term strategy to achieve leadership in digital innovation, focusing on meeting its customers’ demands and exceeding their expectations. This move is expected to enhance the company’s ability to contribute to the local economy by localizing innovation and creating new high-skilled job opportunities.
Regarding Saudi companies’ acquisition of Omani startups, Dr. Ali Al-Shidhani, Undersecretary of the Ministry of Transport and Communications for Communications and Information Technology, stated, “With the maturity of the Omani entrepreneurial environment and the growth of Omani startups, expanding into regional and global markets, we are pleased to see Omani companies’ success stories, reflecting the quality of Omani startups and their deep understanding of building advanced products capable of serving major government and private sector entities.
This acquisition is the second of an Omani startup by a Saudi company, and we are making efforts to build bridges with our Saudi brothers to create similar success stories.”
