Seven Egyptian data companies to merge

Seven Egyptian private companies that work in the data technology field said they are merging in an attempt to win a bigger share of the Egyptian and Arab technology markets.

Medhat Khalil, the elected member for the Rayah Company, which resulted from the merger, told ArabicNews.com that the companies are Tritech, Eurotech, Fox, Oratx, Horizon, Unitech and Mega.

Khalil added that the capital of the new company will increase in two years and the assets of the merged companies are 9 million pounds and they represent foreign companies such as Sun Microsystems, Nortel, Oracle, and Nokia for communications equipment.

The Egyptian technology market is estimated at nearly 2 billion pounds annually and the communications market at nearly 5 billion pounds annually.