Amphion extends technology commercialisation activities to the Gulf

Joint venture

Technology commercialisation specialist Amphion Innovations plc of London has signed a heads of agreement with a Gulf-based investment company, MS Holdings, backed by the Al-Sayer and Al-Mutawa families of Kuwait, to create a Gulf-based joint venture, MSA Investors (MSA).

According to Amphion, the Gulf Cooperation Council countries now represent the fastest growing economy after China and India. The joint venture’s objective will be to create new markets and partnerships for Amphion’s existing companies, identify new investment opportunities in the region in areas of particular Amphion expertise and provide access to capital and opportunities from Gulf investors.

MSA Investors is to invest US$1 million to set up and run two companies in the region, Saydanah and Suvani. Saydanah will specialise in functional foods while Suvani will provide software and technology support services from India to two of Amphion’s companies, Motif and FireStar, and intends also to market Radio Frequency Identification technology and services from Axcess, another Amphion investee company.

The Gulf partners have committed a further US$3.5 million to fund the further development of MSA and its companies.