Tradeling to Acquire Axiom's Mena Distribution Business
Deal News | Dec 16, 2024 | Zawya
Tradeling Holding, a subsidiary of the Dubai Integrated Economic Zones Authority (DIEZ), has announced a definitive agreement to acquire the Mena distribution business of Axiom Telecom. This strategic move will position Tradeling as a leading technology partner for global brands with projected annual revenues surpassing AED2 billion. The acquisition targets 100% of A&T Holding FZCO, which owns significant Axiom distribution businesses across the UAE and Saudi Arabia. Tradeling has seen significant growth in its e-commerce operations, with a fourfold increase in order volumes since 2023 and expectations to ship over 3.5 million units this year. The deal aligns with the Dubai Economic Agenda D33, aiming to double the emirate's economy by 2033.
Sectors
- E-commerce
- Technology Distribution
Geography
- United Arab Emirates – Tradeling and Axiom Telecom operate within the UAE, and the acquisition is significant to the country's economic landscape.
- Middle East and North Africa (Mena) – The acquisition specifically targets the Mena region distribution businesses of Axiom Telecom.
Industry
- E-commerce – Tradeling operates as a B2B e-commerce platform, central to its business model and the context of the acquisition.
- Technology Distribution – Axiom Telecom specializes in technology distribution, which is the core activity involved in the acquisition.
Financials
- AED2 billion – Projected annual revenue following the acquisition.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Tradeling Holding | Buyer | Company | A B2B e-commerce entity owned by Dubai Integrated Economic Zones Authority (DIEZ). |
| Axiom Telecom | Target | Company | A technology distribution company with significant presence in GCC markets. |
| Dubai Integrated Economic Zones Authority (DIEZ) | Parent Entity | Government | A government authority overseeing Dubai's free zones and economic diversification strategies. |
| A&T Holding FZCO | Target Company | Company | Holds the key distribution businesses of Axiom Telecom being acquired. |
| Sheikh Ahmed bin Saeed Al Maktoum | Witness | Person | Chairman of DIEZ, witness to the signing of the agreement. |
| Dr. Mohammed Al Zarooni | Signatory, Executive Chairman | Person | Executive Chairman of DIEZ, responsible for signing the acquisition agreement. |
| Abdul Aziz AlBannai | Signatory, Chairman | Person | Chairman of Axiom Telecom, involved in the agreement signing. |
| Fahad AlBannai | CEO | Person | CEO of Axiom Telecom. |
| Alastair Croker | CEO | Person | CEO of Tradeling. |