McLaren Strategic Ventures, a global digital accelerator, and Redington Value, the largest IT distributor in the Middle East, Africa, and Turkey, today announced a strategic partnership to support SMBs in the MENAT regions in the transition to a digital economy.
Small-to-medium size businesses need modern technology enablement and capital-to-scale resources to meet today’s fast-moving digital business environments. The combined competencies of McLaren SV and Redington Value enable enterprises to reduce costs and more effectively and efficiently plan and execute technology that will help drive their business initiatives forward. McLaren’s personalized domain is consulting, advisory services, and technology platforms perfectly fit Redington Value’s massive IT distribution model.
According to the Kenneth Research firm, the Middle East and North Africa (MENA) Digital Transformation Market for 2021 is forecasted to reach 2,791 million USD by 2025, garnering a compound annual growth rate (CAGR) of 16.4%. This increases e-government and innovative city initiatives, growing internet penetration and social media usage, rapid adoption of digital services in the BFSI sector, and enterprise mobility to be significant growth drivers of the MENA digital transformation market over the period i.e., 2015-2021.
“This collaboration brings together two market leaders with synergistic business models that help accelerate digital transformation for small to medium-size businesses,” said Anubhav Saxena, CEO at McLaren SV. “The huge IT distribution reach of Redington Value within the Middle East, Africa, and Turkey, together with the McLaren SV model for acceleration, joint ventures, acquisitions, and portfolio companies, provides unparalleled opportunities with access to the latest technology, to accelerate the customer’s digital transformation efforts.”
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“We believe that symbiotic partnerships between value-added distributors such as ourselves and leading & Niche tech innovators are essential in accelerating digital transformation in the region. Additionally, it provides us with a unique opportunity to empower organizations to reap the benefits of the digital revolution and redefine their future by simplifying their transformation journey,” said Sayantan Dev, President at Redington Value.
The region’s active start-up ecosystem has been a critical driver of the digital transformation trend and even came out ahead last year as lockdowns forced many people to use online services for the first time. According to data by MAGNiTT, MENA start-ups in 2020 saw a record $1 billion in investments, up 13 percent from 2019, while the number of investment deals decreased. This positive trend also continued in the first months of 2021, with start-ups raising $396 million in 125 deals in the first quarter, according to Wamda, an accelerator and knowledge platform in the MENA region.
