Sale of USD3 million announced by Oman's Genesis International
Date
11/29/2017 5:49:12 AM
(MENAFN) Oman-based IT solutions company Genesis International has sold 60 percent of its business for USD3 million, announced the company in a statement.
The stake was sold to interior fit-out firm Muscat Glow, with the financial injection helping to fund an USD8m project to manufacture laboratory, industrial, educational and commercial instruments, as in addition to the expansion strategy across the GCC.
Genesis International founder, Qais Al Khonji, said, "Since its inception in 2011, Genesis International has played a key role in the IT solutions of Oman and is currently implementing a Smart City concept in Muscat".
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