Maqta Gateway, the digital branch of AD Ports Group, has purchased TTEK Inc, a company that creates customs systems and border control solutions, for $26.7M.
According to AD Ports Group, the acquisition involves an initial payment of $17.1M. With the purchase, Maqta Gateway plans to benefit from TTEK’s research and development center in Vietnam and its expertise in modernizing customs and borders in Africa, the Middle East, North America, and Australia.
TTEK is expected to generate revenue and EBITDA of approximately $8.2M and $2.3M, respectively, in FY23 (ending in March).
