Kenya-based IT company iSON Group has acquired a subsidiary of Emirates National Oil Company (Enoc).
iSON and its co-investor, Dhabi One Investment Services, did not disclose the value of acquiring Global Technology Services from the Dubai-based fuel retailer.
The acquisition will increase iSON Group’s footprint from 29 to 35 countries in Middle East and Africa, India and Association of Southeast Asian Nations (Asean).
The purchase also will expand iSON’s services into segments such as oil and gas, said Jitendra Israni, the chief executive of iSON.
He said it is part of the company’s plans to expand its portfolio to 40 companies by next year.
“We were very much banking and telecom focused,” said Mr Israni. “So with the acquisition of GTS our vertical mix gets balanced and we get access to new customers and we get their skills and technical know-how.”
The global outsourcing industry is forecast to to reach US$497 billion by 2019, according to a report by Frost and Sullivan and Dubai Outsource Zone.
The UAE is the second-largest outsourcing industry in the Middle East and North Africa region, with Dubai accounting for 90 per cent of outsourcing activity in the UAE.
With the acquisition, iSON will have operations in countries that include Bahrain, Qatar, Saudi Arabia and Kuwait.
The company plans to enter Iran once sanctions are lifted and is interested in North African and sub-Saharan African countries such as Morocco, Namibia and Mozambique.
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