ATH Moves To Invest In Mobile Technology In The Arab World

| Jun 10, 2009 | comment Leave a comment

Accelerator Technology HoldingsAccelerator Technology Holdings (ATH) has announced that it is working on establishing a company to fund investment in mobile technology in the Arab region.

ATH is a holding company that acts through a group of companies established in Jordan and Bahrain to identify, invest in and help build best of breed ventures in the ICT value chain in the Arab world, and that has already funded a number of Arab startups through its IV Holdings venture capital arm.

They’re currently working on raising an initial US$10 million in funds, after which they will move on to hiring a management team to launch and run this new company.

They are particularly looking at areas like security and authentication, based on their expectations that financial transactions over mobile platforms will become very widespread in the region in the future, especially with several of the region’s big mobile network operators launching mobile payment initiatives recently.

This new company will operate as a cross between venture capitalist and commercial investor, building ties and working with foreign companies to bring new mobile technologies to the region. They’ve already started talking to businesses in the UK, Switzerland and Norway about bringing their mobile products to the Arab world.

# Source: The National

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