Abu Dhabi-based conglomerate International Holding Co., which was set up to develop non-oil secors in UAE, said it has acquired a 54% stake in Emircom, an information and communications technology (ICT) provider, for AED 250 million ($68 million).

The transaction comes as part of IHC’s strategy to grow it’s digital assets portfolio and to expand into new growth areas, it said in a regulatory filing on Abu Dhabi Securities Exchange on Wednesday.

Syed Basar Shueb, IHC’s CEO said the company will continue to seek further acquisitions in different industries, including in the ICT sector.

(Writing by Brinda Darasha; editing by Seban Scaria)