The Omani data startup Promize has been acquired by T2, the Riyadh headquartered company in business development, research, and digital transformation. This acquisition by T2 is a part of the Saudi company’s long-term strategy to achieve leadership in digital innovation, focussed on meeting the customers’ demands.
The move is aimed at enhancing the company’s ability to contribute to the local economy by localising innovation and creating new high-skilled job opportunities.
Saif Al-Issaie, CEO and co-founder of Promize, stated, “The innovative technological solutions and exceptional technology built within Promize will accelerate T2’s expansion process, enabling it to serve a new segment of customers and meet their needs, focusing heavily on enhancing user experience in applications.
The agreement was signed by Al-Issaie, and Mamdouh Al-Aqeel, CEO T2, in the presence of Dr. Ali Al-Shidhani, Undersecretary of the Ministry of Transport and Communications for Communications and Information Technology, and the accompanying Omani delegation.
This took place during Oman’s participation in the “Leap 2024” global tech conference held in Riyadh, Saudi Arabia, from March 4th to 7th, 2024.
Mamdouh Al-Aqeel, CEO of T2, stated, “The integration of Promize into our operations represents a turning point for T2, aligning with our mission to deliver exceptional value to our customers.”
Promize was founded in 2022 and has achieved significant success in the sector by building a sophisticated and competitive system distinguished by its exceptional capabilities to facilitate analysis and communication operations effectively.
Additionally, Saheeb Badr, co-founder of Promize, added, “Our strategy at Promize has always been closely linked to T2’s products. Promize was launched with a pre-built integration with T2’s ‘Massajat’ service, and in recent weeks, Promize has been integrated with three other products, ensuring greater integration and value for T2’s customers.”
T2 provides technological and software products and solutions to facilitate business for prominent government entities and private companies in the Kingdom, with revenues exceeding 600 million Saudi Riyals in 2023.
Dr. Ali Al-Shidhani, Undersecretary of the Ministry of Transport and Communications for Communications and Information Technology, stated, “With the maturity of the Omani entrepreneurial environment and the growth of Omani startups, expanding into regional and global markets, we are pleased to see Omani companies’ success stories, reflecting the quality of Omani startups and their deep understanding of building advanced products capable of serving major government and private sector entities.
This acquisition is the second of an Omani startup by a Saudi company, and we are making efforts to build bridges with our Saudi brothers to create similar success stories.”
