Title: UAE’s e& Plans to Expand into New Markets with Complimentary Acquisitions
UAE technology conglomerate e& is set to embark on a new phase of growth by expanding into new markets and diversifying its portfolio through acquisitions. The company’s consumer and international units are actively seeking opportunities to acquire complementary assets that will enable them to broaden their sector focus and reach a wider consumer base.
e& life, which primarily focuses on financial technology and video streaming services, is considering expanding into sectors such as e-commerce, insurance, and health. In an interview, the CEO of e& life, Khalifa Al Shamsi, expressed the company’s intention to pursue growth in the consumer digital space. He mentioned that health technology, insurance technology, and e-commerce are all potential areas for expansion. The company is open to outright purchases or partnerships to achieve its growth objectives.
The funding for these mergers and acquisitions will come from e& itself, as the conglomerate is financially strong. Mr. Al Shamsi emphasized that no debt financing is being considered at this point. The company is also open to attracting additional shareholders or strategic partners to support its expansion plans.
Meanwhile, e& international, which oversees the group’s operations abroad, is constantly evaluating assets in countries with stable economies and currency regimes. The unit is focusing on acquiring majority stakes in companies operating in central and eastern European markets, with a pending deal to acquire a majority stake in PPF Group in Bulgaria, Hungary, Serbia, and Slovakia. In Asia, e& international is actively looking to acquire talent to strengthen its position in the fixed and mobile categories.
Both e& life and e& international are leveraging artificial intelligence (AI) to enhance their services. e& life is positioning AI as the driver of its next generation of services, allowing for the identification of user behavior to streamline offerings. e& money, the company’s flagship FinTech service, is expanding its network through partnerships, such as with Mastercard, to enhance services like remittance.
While e& currently has no plans for an initial public offering, the company is focused on utilizing innovative technologies and adapting to evolving consumer demands. By expanding into new markets and diversifying its portfolio, e& is positioning itself for continued growth and success in an increasingly competitive landscape.
Overall, e& plans to leverage its financial strength, strategic partnerships, and cutting-edge technologies to expand its reach and provide innovative solutions to consumers in various sectors. With a focus on acquisitions and diversification, the conglomerate aims to solidify its position as a leading player in the global technology industry.
