Global Intel acquires Egyptian co.

Bassem Abo Alabass, Monday 21 Mar 2011

Intel Corporation acquired most of the assets of SySDSoft, a privately-held software company based in Cairo

Intel

Intel announced its acquisition of most assets of SySDsoft-Egypt, which works in the field of computer programming. The Cairo based company employs around 100 electronic engineers.

"This is Intel's largest acquisition in the Middle East and North Africa", comments Taha Khalifa the General Manager of Intel-Egypt to Ahram Online.

He however refused to unveil the transaction value "upon request of the acquired company".

The transaction suggests that global firm intends to increase its investments in Egypt. "It is an important step to acquire efficient entities in the field of design and development of wireless communication technology, especially when the company is based in Egypt," comments Arvind Sodhany, Chairman of the 'Intel Capital' and Chief Executive Office of Intel, in a press release issued by the General Authority for Investment (GAFI) on Monday.

“The company is an added-value to the list of major international companies investing in Egypt," welcomed Osama Saleh, Chairman of GAFI.

Intel has 11 offices across the Middle East and Africa based in Dubai, Saudi Arabia, Algeria, Morocco, Lebanon, Egypt and South Africa. The company also owns 5 laboratories in Israel.

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