Optimiza sales surpass JD25m

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This reflects a growth rate of more than 92% compared with last year, noting that Optimiza's sales for the whole year in 2007 were JD13m. Also, these results exceed the estimated budget and Optimiza's business plan objectives, which were announced during the first quarter of this year. It is expected that by the end of the current year, Optimiza will achieve sales that exceed JD35m, which is more than 170% growth compared to last year's sales.

This major growth in sales came as a result of the completion of the mergers and acquisitions by Al-Faris National Investments of 9 local and regional companies, and the organic growth of these companies. In addition, the company had concluded the acquisition of 70% of Royah in Saudi Arabia as a strategic step to expand its operations in one of the biggest IT markets in the Arab world, and in line with the company's vision to become one of the largest IT firms in the Middle East.

Mr. Rudain Kawar, Optimiza's Chairman, expressed his satisfaction with these results and said:

'This success reflects the solid skills of the management team in setting strategic plans for expansion and growth in the region, and comes as a consequence of the determined efforts of all of Optimiza employees in implementing these plans efficiently and effectively.'

It is also worth mentioning that Optimiza signed several contracts during 2008, which covered all of the main sectors that the company caters to, most notably Saudi Telecom, Mobily and Jordan Telecom in the Telecommunications sector; Union Bank (Jordan) and Riyadh Bank in the banking sector; Ministry of Justice and Social Security Corporation (Jordan), Jeddah Municipality, Saudi Post, and Abu Dhabi Tourism Authority in the government sector; Ministry of Education (Jordan) and Supreme Education Council (Qatar) in the education sector; MedLabs, Department of Health and Medical Services (Dubai) and Al-Basra General Hospital in the healthcare sector; and United Arab Investors, Nuqul Group, and Hikma Pharmaceuticals in the enterprises sector.

Mr. Hazem Malhas, Optimiza's CEO, confirmed:

'We are very proud of the positive results that we have achieved this year; Optimiza currently employs more than 570 employees in our offices in Saudi Arabia, Qatar, Kuwait, Jordan, and the United Arab Emirates. The Saudi Arabian market has contributed to 50% of our revenue, and the synergies among our services and comprehensive solutions the company offers to the regional market sets it apart from its competitors.'

He also added, 'We are in the midst of completing new strategic partnership agreements with global and regional companies and groups to expand our investments in the knowledge and Information Technology fields, as well as large projects implementation.'