Fadel Systems joins ITG Holding

"This merger, which comes in the context of ITG's strategy to invest in the value-added software and services fields, will further strengthen ITG's leading position in the Lebanese and Regional IT markets. The combination of Fadel Systems' Oracle expertise and ITG's resources & market reach will provide our clients with significant advantages. Indeed, ITG will leverage Fadel Systems' proven track record in the provision of quality Oracle solutions and invest in growing the company's delivery capabilities. This partnership is also expected to result in greater efficiencies and significantly increase our footprint, when it comes to the Oracle local and regional business space," said Mr. Claude J. Bahsali, Chairman & CEO of ITG Holding.

Mr. Tarek E. Fadel, Chairman & CEO of Fadel Systems (Beirut), added: "We are very excited at the tremendous opportunities that this merger presents. In addition to continuing to provide our customers with the very best Oracle ERP and Middleware Implementation Services, we will also expand our portfolio of offerings across other key Oracle products. Our customers will benefit from an expanded team and service offerings combined with our relentless dedication to customer satisfaction. We will work closely with our customers, partners and employees to make the integration process seamless. It is worth noting that the current management team of Fadel Systems will remain intact. Mr. Mounir Rahmeh, who was instrumental in the growth of the company will remain the General Manager and will be actively supported by ITG's executive team to take the company to the next level. The integration of both companies will take place over the next few weeks. Of course, in the meantime our customers will continue to receive the same high quality services from Fadel Systems, which they have come to expect".

Fadel Systems SAL, which will be renamed to PrimeWare and will - effective immediately - operate under this new name, is now a subsidiary of ITG Holding.

ITG and Fadel Systems announced the merger during a conference that took place at the Phoenicia Beirut Hotel, on January 30th, gathering ITG and Fadel Systems most valuable customers, as well as Oracle Middle East executives.