Saudi-based Al Malaz Group has acquired six per cent of IT company Optimiza's traded shares on the Amman Stock Exchange.

The strategic partnership comes as part of Al Malaz Group's plan of investing in the growing IT sector.

Last June, Optimiza had acquired 70 per cent of Royah, a company that was solely owned by Al Malaz Group.

Al Malaz Group and Optimiza will now focus on investing in the IT and consulting sectors in the Middle East region in general, and KSA in particular, as a direct response to the market's growing needs.

Al Malaz Group enjoys a leading position in the region, backed by its investments in the IT sector. These investments include several companies, one of which is Royah, in addition to managing a SR250 million ($66.6 million) ICT-specialised investment portfolio.

Dr Abed Al Alziz Al Jazzar, executive partner of Al Malaz Group, said his company signed the deal knowing Optimiza's renowned ability in providing the latest management consulting, IT solutions and services, training and outsourcing, bolstered by Optimiza's thriving expansion plans on a regional scale.

Hazem Malhas, CEO of Optimiza, said: "This partnership is considered a valuable asset to Optimiza's journey, and we perceive it as an incentive to multiply our efforts into developing our IT and consultancy solutions for the different sectors we serve, particularly in Saudi Arabia."

Optimiza is the first technology solutions and management consulting services' company listed on the Amman Stock Exchange.  

Its strategy is based on growth through acquiring and merging pioneering regional companies, to be able to provide integrated solutions targeted at serving big companies and projects in the different economic sectors. - TradeArabia News Service