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ITWorx Limited
Offering Size: USD 8 Million
Country: Egypt
Sector: Software Development
Year: 2007
The MENA Small & Medium Enterprises Fund 1 acquired a 30% stake in ITWorx in 2007. With development centres in Egypt, and sales and marketing offices in Saudi Arabia, UAE and USA, the Company is the largest software development company in Egypt in terms of revenue, developing and maintaining software for a large and diversified customer base.
In 2008, ITWorx continued to perform well and on budget. Historically, the Company has derived the majority of its revenues and profits from US clients. However, it has recently shifted its focus to the MENA region in order to minimise impact from the economic slowdown in the USA.
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Offering Size: USD 8 Million
Country: Egypt
Sector: Software Development
Year: 2007
The MENA Small & Medium Enterprises Fund 1 acquired a 30% stake in ITWorx in 2007. With development centres in Egypt, and sales and marketing offices in Saudi Arabia, UAE and USA, the Company is the largest software development company in Egypt in terms of revenue, developing and maintaining software for a large and diversified customer base.
In 2008, ITWorx continued to perform well and on budget. Historically, the Company has derived the majority of its revenues and profits from US clients. However, it has recently shifted its focus to the MENA region in order to minimise impact from the economic slowdown in the USA.
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