IBM has acquired all outstanding shares of Holosofx, Inc., a privately held, California-based provider of business integration software, in a bid to extend its portfolio of business integration infrastructure software. The acquisition closed September 11 and the company's operations will be integrated immediately with IBM Software Group. Financial details were not disclosed.
In 1990, Holosofx established a software development lab in Cairo with a team of Egyptian software programmers who developed the product. The Holosofx business integrated platform enables customers to model, manage and monitor their business processes like supply chain management, customer relationship management and inventory management.
Holosofx technical team will integrate within Cairo TDC, the largest software development lab owned by a multinational in the region. With this acquisition, IBM Egypt workforce will increase by 25 percent with an objective of doubling the exports of Software and skills
"With Holosofx having developed its product in Egypt, this is a testimony to the quality and skills of Egyptian programmers providing a world-class product," said Amr Tawfik, IBM Egypt general manager.
"In line with the government directions to transform Egypt into an exporter of software and skilled resources, this acquisition is part of our expansion plans to further support the growing software development industry in Egypt," he added.
"Professional Egyptian engineers working for Holosofx, are among the core of qualified caliber who will lead Egypt's local software industry to its required goal," asserted Ahmed Nazif, Egypt’s Minister of Communications and Information Technology. — (menareport.com)
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