IHC Continues to Accelerate Tech Vertical Expansion with 15% Cornerstone Investment in Presight AI’s IPO

• Presight AI’s IPO is IHC’s second major investment in less then six months after Bayanat. Presight AI’s IPO is IHC’s second major investment in less then six months after Bayanat.
• IHC is looking to deepen its engagement and investment in the tech space.

Abu Dhabi, 17 March 2023: International Holding Company (ADX: IHC), the global diversified Abu Dhabi-based conglomerate, confirmed today 15% cornerstone investment in the upcoming initial public offering (IPO) of Presight AI, a G42 Group subsidiary.

The move comes as part of IHC's long-term strategy to grow its capacity in the tech industry across different sectors as it continues to scale up its information technology businesses. It has increased its technology deals by over 200 percent since 2021, crossing AED 2.1 billion in tech investment.

International Holding Company planned Tech Holding company will not only focus on acquiring a majority stake in large-size tech companies but also the small and medium tech businesses as it will hold diversified tech verticals under its umbrella.

IHC most recent acquisitions include a majority stake in Emircom, the leading information and communications technology (ICT) provider for AED 250 million, 55 percent stake in cybersecurity service provider CyberGate; an increase in Esyasoft ownership from 20 percent to 51 percent; and 15 percent in Bayanat, an AI-powered predictive geospatial intelligence technology company. IHC also owns Royal Technology Solutions, a leading system integrator & IT service provider.

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