Abu Dhabi, UAE: Multiply Group, a fast-growing diversified company, and subsidiary of Abu Dhabi-listed International Holdings Company (IHC), has taken full ownership of UAE marketing and communications firm Viola Communications, as it continues to expand rapidly and broaden its service offering in the strategic and digital marketing sector.
Syed Basar Shueb, CEO & Managing Director and Board Member of IHC said: “IHC is building scale across all of our portfolio companies and enhancing their capabilities to become national champions in their industries. Multiply Group is growing into a major player, with ambitions to expand its holdings and sector investments further both in the UAE and across the world. Through its strategic acquisitions, the company is broadening its client base and creating synergies that add significant value.”
Samia Bouazza, CEO of Multiply Group said: “We have formed a strong relationship with Viola Communications after merging its operations with Multiply Marketing Consultancy. The ecosystem we have created within Multiply Group is an exciting proposition for the region’s media and digital marketing landscape”.
Multiply Group has recently made strategic investments in Emirates Driving Company and joint venture Omorfia Group which oversees local beauty giants Tips & Toes, Bedashing, Jazz Lounge Spa and Ben Suhail Distribution.
Bouazza added: “Our strategy is to grow aggressively. Our stakes in San Francisco-based taxi-top advertising pioneer Firefly and New York-based advertising attention analytics firm Yieldmo further enable us to capture the power of next generation digital innovation and data analytics to bring greater impacts for brands and consumers.”
International Holding Company (IHC)
IHC was founded in 1998, as part of an initiative to diversify and grow non-oil business sectors in the UAE. Adhering to ‘Abu Dhabi’s Vision 2030’, the ADX listed company endeavours to implement sustainability, innovation, and economic diversification initiatives across what is now one of the region’s largest conglomerates. IHC has a clear objective of enhancing its portfolio through acquisitions, strategic investments, and business combinations. Comprising more than 30 entities, IHC seeks to expand and diversify its holdings across a growing number of sectors, including Real Estate, Agriculture, Healthcare, Food and Beverage, Utilities, Industries, IT and Communications, Retail and Leisure, and Capital.
With a core strategy to enhance shareholder value and achieve growth, IHC drives operational synergies and maximizes cost efficiencies across all verticals – it also continues to evaluate investment opportunities through direct ownership and entering partnerships in the UAE and abroad. As the world changes, and new opportunities arise, IHC remains focused on resilience, innovation and redefining the marketplace for itself, its clients, and its partners.
Multiply Group (formerly known as Multiply Marketing Consultancy) is an Abu Dhabi-based holding company investing and growing, organically and inorganically, a diversified portfolio of high-return businesses, both in the UAE and abroad.
With a forward-thinking outlook, the Group continues to expand by organically growing existing businesses, acquiring innovative solutions, creating platforms that empower companies to be more scalable and efficient, and infusing their growth mindset culture into their subsidiaries. In terms of inorganic growth, Multiply Group pursues disruptive, tech-driven and scalable acquisitions, with rapid growth potential, particularly focusing on the digital economy.
Multiply Group’s investments span many industries including businesses such as Emirates Driving Company, Omorfia Group, Viola Communications, Firefly and Yieldmo.
Major shareholders of Multiply Group include International Holding Company (IHC), one of the fastest growing and most valuable companies in the UAE.
Viola Communications is a well-established and fast-growing UAE based investment group specializing in providing fully integrated marketing and communications solutions to national and regional firms. Viola is a leading 360-degree integrated communications solutions hub in the region, headquartered in Abu Dhabi’s prestigious media and entertainment hub twofour54, with other offices in Dubai and Cairo.
The group is uniquely positioned to provide a full spectrum of services and proud to have a portfolio of 6 business units. These operations include Viola Advertising, Viola Public Relations, Viola Planning Consultancy, Viola Outdoor, Viola Events and Viola Production.
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© Press Release 2021