Secures $3 Million Financing to Support Operations and Fund Growth
Dubai, United Arab Emirates – Genesis International, the fast growing IT solutions company today announced that it has sold 60% of the business to an investor. The aim behind the sale is to fund the manufacture of all laboratory, Industrial, Educational and Commercial instruments in its home country, Oman and in the GCC.
The project which is set to begin in the 1st quarter of 2018 is valued at $8 million and will receive a substantial monetary injection of $3 million for operational expenditure. Mr. Qais Al Khonji Omani Businessman and Entrepreneur extraordinaire remains as founder and significant stockholder of Genesis international.
Founder of Genesis International, Qais Al Khonji was very positive about the opportunities created from this sale, “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. And now we will be able to further enhance our company’s abilities to better several industries as innovative leaders while strengthening the company’s financial structure and leadership position. Our underlying business remains strong and the company’s operation is in good hands and we all look forward to a positive transition into a promising future for Genesis International.”
Genesis International has been a successful, privately held business since 2011 in Oman and has grown into a leader for all kinds of IT solutions. The core business involves setting up labs for educational, commercial and industrial use from furniture to all forms of equipment and with almost $20 million revenue generated with an upfront paid capital of $5 million, the future looks exceptionally promising for Genesis International after the singing of the deal and the new investor is keen for the expansion plan to begin.
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For further information, please contact:
Kristie Templa-Gonzales
Paz Marketing Management
kristie@pazmarketing.com
042980808
