Maqta Gateway, AD Ports Group’s digital arm, announced the acquisition of TTEK Inc, a developer of border control solutions and customs systems, to reinforce its market position as a leading digital trade and holistic Single Window solution provider.
The acquisition will extend Maqta Gateway’s existing digital trade solutions portfolio by incorporating border optimization management solutions, utilizing disruptive technologies such as Artificial Intelligence, Machine Learning, and advanced risk analytics. TTEK’s solutions merge deductive and inductive analytics with predictive modelling to form a powerful ML platform for customs, immigration, policing, and border agencies.
TTEK’s solutions use 1.5 million risk indicators and AI predictive modelling to establish more reliable border security controls. The total purchase consideration for the acquisition (Enterprise Value) of 100 per cent ownership amounts to US$26.7 million with an upfront payment of US$17.1 million. Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said, “The acquisition of TTEK Inc., will bring near-term and sustained synergistic benefits to AD Ports Group, including fast time-to-market delivery and significant sector expertise. The comprehensive custom Single Window solution provided through this acquisition has high demand in global markets, including Central Asia.”