Abu Dhabi-based conglomerate International Holding Company (IHC) has announced the acquisition of a 70% majority stake in Peko Holdings, a UAE-based payments technology company. The move, disclosed via the Abu Dhabi Securities Exchange, is aimed at significantly enhancing IHC’s digital services portfolio, though the financial details of the transaction were not made public.
Strengthening a Digital Services Portfolio
This acquisition is a strategic step for IHC as it continues to build out its capabilities in high-growth technology and financial services sectors. The integration of Peko Holdings is expected to create synergies within IHC’s existing ecosystem and support its long-term vision.
Syed Basar Shueb, CEO of IHC, commented on the deal, stating, “This acquisition strengthens our portfolio of digital services and supports our strategy to build integrated value chains in high-growth sectors.”
Peko’s SME-Focused Financial Platform
Founded in 2022, Peko Holdings provides a comprehensive digital platform designed to help companies streamline essential financial and administrative operations. The firm has quickly gained traction, serving over 1,000 small and medium-sized enterprises (SMEs) with a suite of services that includes payment management, payroll, business travel, invoicing, corporate cards, and compliance solutions.
A Pattern of Strategic Expansion
The acquisition of Peko Holdings is the latest in a series of strategic investments and expansions by IHC over the past six months. The company has been actively diversifying and deepening its presence in financial services, technology, and digital infrastructure through deals with companies such as Invictus Investment, Sammaan Capital, First Women Bank Limited, and Zelo.
About International Holding Company (IHC)
International Holding Company (IHC) is a major investment holding company based in Abu Dhabi. Listed on the Abu Dhabi Securities Exchange, IHC maintains a diverse and rapidly growing portfolio of assets across a wide range of sectors, including real estate, agriculture, healthcare, food and beverage, and technology.
About Peko Holdings
Peko Holdings is a UAE-based financial technology company established in 2022. It offers a digital platform that enables SMEs to simplify and manage their financial and administrative processes, including payments, payroll, corporate cards, and compliance.
Source: Jawlah
