Ejada Systems Company Ltd is poised to expand its operations in the Middle East and acquire a larger share of the rapidly growing IT sector, particularly in Saudi Arabia, following the acquisition of a 30 per cent stake by a leading wealth management and investment organisation.

Saudi Economic and Development Company’s (Sedco) investment in Ejada is geared towards creating the first truly regional IT services and solutions provider in the Middle East and North Africa region.
Sedco’s investment is seen as a clear indication of Ejada’s potential.  “We believe that Ejada has the potential to become the leading IT services and solutions provider in the Middle East, with strong brand recognition and a diversified customer base,” said Yousuf Khayat, managing director of Sedco’s Direct Investment Group.  “We are pleased to be able to help the company achieve its potential, and look forward to working with the Ejada management to create the Middle East’s own IT powerhouse.” Sedco conducts its business through Shariah principles.
Ejada was created in early 2005 by merging the businesses of Advanced Computer Technology, Newtek Solutions International and Elite Computer Solutions, creating one of the largest IT services and solutions companies in the region with enhanced capabilities in the banking and finance, oil and gas, telecommunication, heath, education, military and defence sectors and governments in the region.
Riyadh-based Ejada has a workforce of more than 400 professionals in eight key cities of the Middle East and North Africa.
Commenting on Sedco’s move, Yasin Bakhsh, Ejada’s chairman, said: “Sedco’s investment brings a valuable contribution toward achieving Ejada’s vision of being recognised as the largest, most trusted and innovative IT services and solutions company in the Middle East and North Africa. We are known in the market for our ability to successfully deliver complex and large-scale IT projects. We are committed to enabling our clients’ business excellence by ensuring the highest standards of implementation, integration, consulting and support services”.  
According to Business Monitor International, the IT services market in Saudi Arabia is expected to reach $1billion in 2006, from $700 million in 2005.