DB Capital Partners, the private equity arm of Deutsche Bank, has doubled its equity stake in Dubai-based Interactive Limited to become the controlling investor in the IT company.
DB Capital, which previously held an 18% stake in the company, now holds a 36% share following the purchase of equity held by Armada Partners. Terms of the transaction were not disclosed.
Interactive Limited provides a range of software and integrated IT solutions for e-banking and e-government in the Middle East.
Pierre Suhrcke, managing director of DB Capital Partners, says: “The company’s excellent management team has an outstanding track record and is rapidly achieving its revenue and profit targets through expansion into new markets. The entire Middle East region is poised for dynamic growth in many segments of technologically based industries, and Interactive will participate in that upward trend.”