On November 16, 2024, Datamatics Global Services Ltd announced the incorporation of a wholly-owned subsidiary, Datamatics Global Services LLC-FZ, in the Meydan Free Zone, Dubai, UAE. Established on November 15, 2024, the subsidiary has an initial share capital of AED 50,000.
As a wholly-owned entity, it is classified as a related party of Datamatics Global Services Ltd. However, the promoter, promoter group, and group companies have no interest in the subsidiary beyond their shareholding.
The new subsidiary will operate in the IT and IT-enabled services (ITeS) sector, aiming to expand Datamatics’ market presence and strengthen customer focus in the UAE. The company has fully acquired the subsidiary’s equity share capital through a cash investment of AED 50,000.
As a newly incorporated entity, Datamatics Global Services LLC-FZ is yet to commence operations and has no turnover history to date.
