$20mn Investment in US Firm to Strengthen Oman's Tech Ecosystem
ITHCA invests $20mn in US firm Movandi to boost Oman's AI, semiconductor and next-gen communication ecosystem.
Muscat – ITHCA Group, the technology investment arm of Oman Investment Authority, has invested US$20mn in US-based Movandi, a semiconductor and wireless connectivity firm.
The deal supports Vision 2040 goals to build a knowledge-driven and technology-based economy, with a focus on artificial intelligence, semiconductors, and smart communications infrastructure.
Said bin Abdullah al Mandhari, CEO of ITHCA Group, said the investment reflects the company's commitment to building strategic partnerships with leading international firms in emerging technologies.
Author's summary: Oman invests $20mn in US tech firm.
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