The Advanced Computer Technology (ACT) Company aims to launch its new company, called “ACT Holding”, before the end of this year, which would include nine affiliates operating in the fields of information technology and communications, with a capital of EGP 200m. This step comes in light of the recent increase of the company’s business volume locally and regionally, especially in the petroleum and hospitality sectors. Daily New Egypt revealed in a previous edition, released on 15 March, that the company has increased its capital by 50%, turning itself into a holding company with an expansion scheme. According to Mansy, the holding company will include under its umbrella ACT Integration Systems, Advance Global Service, ACT Pride, and another company operating in application development. The company aims to increase the volume of its business this year to EGP 1.2bn, compared to EGP 600m in 2016.

Source: Daily News Egypt March 18, 2017 13:52 UTC