Sellwin Traders signed an MoU to acquire a 51% stake in Dubai-based Global Market Insights IT Services (GMIIT) for USD 1 million (around ₹8.5 crore).
The deal will make GMIIT a subsidiary of Sellwin Traders.
Sellwin Traders Signs MoU to Acquire 51% Stake in Dubai-Based GMIIT(GMIIT).
The Ahmedabad-based company has entered into a memorandum of understanding with GMIIT to form a strategic business partnership aimed at expanding and strengthening GMIIT’s operations in the Gulf region, Sellwin Traders said in an exchange filing.
“The company will acquire more than 51% stake in Global Market Insight IT services LLC for USD 1 million (around ₹8.5 crore), thereby making the Dubai-based company its subsidiary,” it said.
The collaboration marks a significant step in Sellwin’s diversification strategy, while providing GMIIT the necessary financial and strategic support to scale up its operations across the Gulf market. Sellwin expects a Return on Investment (ROI) of 7% or more per annum from this partnership, the filing stated.
The partnership will focus on expanding IT services, market research, consulting, and digital solutions in the Gulf region. Both companies will jointly invest in developing business infrastructure, resources, and a strong client base, the filing said.
