ITHCA invests in US chip firm to boost Oman's tech vision
The agreement was signed by Saeed bin Abdullah al Mandhari, CEO of ITHCA Group, and Sam Heidari, CEO of Lumotive.
'This is our second investment in the sector, as we work towards establishing a centre of excellence for Omani semiconductor designers catering to both regional and global markets,' Mandhari said.
He added that the deal reflects ITHCA's approach of partnering with global technology leaders to promote knowledge transfer and build national expertise in semiconductor design.
Heidari welcomed the agreement, saying it would support joint work in research, design and skills development.
Lumotive's honours include the title of 'Next Big Thing in Tech' from Fast Company and three CES Innovation Awards. Its backers include Gates Frontier, MetaVC Partners, Quan Funds, Samsung Ventures and Uniquest.
© Apex Press and Publishing Provided by SyndiGate Media Inc. (Syndigate.info).
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