MenaITech Undergoes a 100% Stake Acquisition

June 21, 2011 Amman – MenaITech, the regional company specialized in building and deploying human resources applications underwent a full acquisition by a group of Jordanian and foreign investors this year, as part of its ongoing expansion strategy.

The company stated that the acquisition process included 100% of its shares and was coherent with its accumulated accomplishments and successes.

In his comment, MenaITech CEO, Dr. Bashar Hawamdeh welcomed the acquisition process which coincided with the company’s growth and its desire to strengthen its presence globally by increasing exports to the targeted markets.

“I believe that this process will assist in the company’s expansion strategy and its interest to penetrate new markets, while maintaining trust in its capabilities which, for many years, have managed to compete against international products and solutions. During the upcoming stage, we look forward to increasing our market share and opening new offices that will belong to MenaITech’s network of branches in Jordan, Saudi Arabia, Qatar, UAE, and USA.” Dr. Hawamdeh said.

For his part, MenaITech Chairman of the board, Mr. Habib Ghawi said: “We have great faith in MenaITech’s history, future, and ability to expand its presence in major global markets, having achieved extraordinary successes due to its expertise and technical programming capabilities. We are thrilled about investing in MenaITech and joining its outstanding team.”

“In the past few months, MenaITech has proven its ability to double its share in the Arab markets, signing several agreements for deploying human resources applications with major companies including Olayan Group, Hikma Pharmaceuticals, Baeshen Group, Mustang Al-Hejailan, among others.” he added.

“Our strategy also includes signing deals with business partners to represent MenaITech in some Gulf and North African countries in which we haven’t launched our services yet.” Mr. Ghawi explained.

Mr. Ghawi mentioned that the company’s strategies for the upcoming stage aim at empowering it with financial and administrative support to maintain its strong regional and global presence, expanding its business reach by improving current programs and adding new packages to ensure its clients with the latest, most effective human resources solutions.

It is worth mentioning that MenaITech’s products include the human resources information management system MenaHR®, the payroll & personnel solution MenaPay®, the employee & manager self service solution MenaME®, the employee 360 degree feedback evaluation software Mena360®, the comprehensive HR consolidation and analysis module MenaExplorer®, in addition to the revolutionary cell phone notification service MenaSMS®