Page 81 - SAMENA Trends - September-October 2022

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

Tech Mahindra and SoftTech Join Forces to Digitally Transform the Global

Construction and Infrastructure Industry

Tech Mahindra, a leading provider of digital transformation,
consulting, and business re-engineering services and solutions,
announced a strategic partnership with SoftTech, a provider
of advanced digital solutions for the construction and civil
infrastructure industry, to digitally transform the global
construction and infrastructure industry. The partnership will
combine the technological capabilities of Tech Mahindra
and the domain expertise of SoftTech to provide customized
solutions for end-to-end digital transformation of business in
the construction and infrastructure industry. The partnership will
enable customers across the government and corporate sectors
to streamline business operations, boost efficiency, and improve
customer experience by leveraging leading-edge technologies like
AI (Artificial Intelligence), ML (Machine Learning), BIM (Building
Information Modelling), Digital Twins, Augmented Reality (AR),
Virtual Reality (VR), Mixed Reality (MR), Construction Wearables,
Robotics, Metaverse, and Internet of Things (IoT). Jagdish Mitra,
Chief Strategy Officer and Head of Growth, Tech Mahindra, said,
“The construction industry contributes 13% to the global GDP,
and is required to continuously re-invent and innovate to become
more efficient and address cost burdens. The industry has at SoftTech, said, “We believe that the construction industry is at
taken valuable strides in digitization, and the many examples of the cusp of undergoing a complete digital transformation, and
successes have increased the demand for next-gen technologies. our partnership with Tech Mahindra creates a great platform to
Tech Mahindra and SoftTech aim to build more sustainable and cater to the needs of the industry. With Tech Mahindra’s industry-
responsible solutions for social and environmental impacts within leading expertise in the manufacturing segment, the company
AEC (Architecture-Engineering-Construction) space. An innovative has succeeded to scale the business upwards to cross a billion-
online inspection-approval system, ERP solution for the real estate dollar run-rate. We are confident that this, combined with their
and construction industries, an online building information model, deep-tech capabilities in 5G and Metaverse, will provide our
etc. are among the strengths of our partnership”. The partnership products scalability in terms of customer base and technical
will further strengthen Tech Mahindra’s market position in the know-how, which will help deliver more value to international
construction industry and empower organizations with seamless construction and infrastructure clients.” Tech Mahindra believes in
implementation and integration of digital solutions across DigitALL philosophy for comprehensive Business Transformation.
departments, functions, and the workforce at the desk and on the This partnership is in line with Tech Mahindra’s focus on digital
field. Tech Mahindra and SoftTech will also work towards cross- growth, under the NXT.NOW™ framework, which aims to enhance
skilling their resources through training programs for knowledge ‘Human Centric Experience’, Tech Mahindra focuses on investing
sharing on various tool implementations, scaling applications, etc., in emerging technologies and solutions that enable digital
thereby creating a skilled talent pool for innovative and scalable transformation and meet the evolving needs of the customer.
solutions. Vijay Gupta, Founder, Chairman and Managing Director

Telecom Egypt Says It Has Received No Official Offers

for Part of Its Stake in Vodafone Egypt

Telecom Egypt has issued an official statement following reports and legal advisors. Prior to Telecom Egypt’s statement, Bloomberg
which had claimed that Qatar’s sovereign wealth fund, Qatar Asharq – citing three unnamed sources – reported that QIA was
Investment Authority (QIA), is seeking to acquire part of the stake looking to purchase up to 25% of Vodafone Egypt’s shares, from
held by the former in mobile network operator (MNO) Vodafone the 45% stake that Telecom Egypt currently holds in the cellco.
Egypt. According to Telecom Egypt, it has not received any official Meanwhile, local press source Enterprise said a source with first-
offers from any entity regarding this matter, though it did say it hand knowledge of the matter claimed that sovereign funds Saudi
would examine and evaluate any official offers submitted to it with Arabia’s Public Investment Fund and Abu Dhabi’s ADQ are also
regard to its Vodafone Egypt stake in cooperation with its financial eyeing part of Telecom Egypt’s stake in Vodafone Egypt.
81 SEPTEMBER-OCTOBER 2022