Egyptian IT companies sign $2.1m agreements at GITEX

A total of $2.1 million-worth agreements were signed by Egyptian IT companies during their participation in the 36th GITEX Technology Week, a computer hardware and software trade show, held on October 16-20 in Dubai, the Information Technology Industry Development Agency (ITIDA) said.

Egyptian company Og Tech announced its expansion in the Gulf market with opening a branch in Dubai to provide services to the government and private sectors of the UAE market, continuing the success story it started with its regional branch in Qatar, ITIDA said in a statement Monday.

Meanwhile, the second Egyptian pavilion at GITEX, dedicated to startups, attracted more than 130 serious investors, who discussed the possibility of carrying out a series of deals, strategic partnerships and acquisitions with Egyptian startup companies, it said.

At the main pavilion, Nilecode software company signed a strategic partnership agreement with Saudi Al Quiyadia Group to establish a joint company named “Integrated Development” with branches in Egypt, Saudi Arabia and the UAE, at a value of 50 million Saudi riyals, it added.

The ICT sector in Egypt is expected to achieve a market growth of $10.9 billion by 2019, it said.