-- Gentrack Group (ASX:GTK, NZE:GTK) signed an agreement to acquire Dubai-based airport technology and services provider Dubai Technology Partners for an enterprise value of $10 million, according to a Thursday filing with the Australian and New Zealand bourses.
Dubai Technology Partners will be incorporated into the company's Veovo airports division, boosting its artificial intelligence-powered portfolio while also broadening its global footprint and strengthening its presence in the Middle East, per the filing.
The deal, which will be funded through the company's existing cash reserves, is expected to add about NZ$3.5 million in fiscal 2026 revenue over four months post-completion, the filing said. It will also be marginally accretive to earnings before interest, taxes, depreciation, and amortization before integration costs, the filing added.
The transaction is expected to be completed within a month, subject to standard conditions.
The company's Australian shares were up 2% in recent Thursday trade, while its Kiwi shares added about 1%.