Emakina Group acquires digital agency Cloudworks (Subject to DED and DMCC approval)

Emakina Group acquires digital agency Cloudworks (Subject to DED and DMCC approval)

GCC cloud consulting expert strengthens its position in the region

Privileged and regulated information – free translation of the official message in French

Brussels, Dubai – Embargo 17.40 CET -

Subject to the approval by the Dubai Department for Economic Development (DED) and the Dubai Multi Commodities Centre (DMCC), Emakina Group SA acquires 100% of the shares of Cloudworks, through its subsidiary Emakina.AE in Dubai. Cloudworks is an innovative cloud consulting company with offices in Dubai. Its 27 experts work on business-critical digital projects for major companies. They are experienced in CRM, sales, service and marketing automation, process re-engineering and change management. With this addition, Emakina would confirm its ambition to be a solid partner in the Middle East for companies aiming to design and execute effective and memorable user experiences and streamline their business.

Cloudworks, a leader in cloud computing

Souphien Akhrif founded Cloudworks in 2015 and the company today is one of the largest Salesforce Platinum partners in the UAE. The team executed over 140 major Salesforce Cloud projects in the region for clients like CPI Financial, Emaar, DP World, Dubai Investments, Dubai World Trade Center, Omantel, Ooredoo, Saudi Aramco, Tadawul, and Virgin Megastore.

Emakina, a solid partner in the GCC region

Karim Chouikri, CEO of Emakina Group:
“After opening our Dubai office in 2018 and integrating Turkish agency WittyCommerce in the group, this acquisition which is subject to the final approval by the DMCC and the DED once more confirms our ambition to be the go-to partner in digital business transformation and omnichannel commerce in the GCC region and beyond. We look forward to adding a highly successful and competent expert team to the group.”

Souphien Akhrif, CEO of Cloudworks:
‘This exciting step will help our team to serve clients even better and create sustainable growth. We aim to improve our commercial, strategic and operational reach. And we gain the support of digital marketing experts in many domains, used to working together in a mature international group.’

The initial purchase price amounts to 500,000 USD in cash. The final purchase price of the transaction will be based on the operating results recorded by Cloudworks until 2023. The additional potential balance will be paid partly in shares and in cash.

The annual turnover of Cloudworks in 2018 amounts to AED 3.5 million, while its EBITDA (earnings before interest, taxes and depreciation) in the same year amounts to AED 600K. Cloudworks is expected to have a positive financial impact on the revenues and consolidated EBITDA of Emakina Group for the last quarter of 2019.


Emakina Group S.A.
Rue Middelbourg 64A
1170 Brussels


VAT 0464.812.221
ISIN BE 0003843605

Contact us
Frédéric Desonnay CFO, Emakina Group
Luc Malcorps Director of Media Relations, Emakina
Frédéric Desonnay CFO, Emakina Group
Luc Malcorps Director of Media Relations, Emakina
About Emakina Group SA

Emakina Group, an EPAM Systems, Inc. company (NYSE: EPAM), is one of the leading digital groups of independent digital agencies, with 26 offices in 18 countries in Europe, the Middle East, Africa and North America.

Learn more at www.emakina.group and follow us on Twitter @EmakinaGroup.

About EPAM Systems

Since 1993, EPAM Systems, Inc. (NYSE: EPAM) has leveraged its advanced software engineering heritage to become the foremost global digital transformation services provider – leading the industry in digital and physical product development and digital platform engineering services. Through its innovative strategy; integrated advisory, consulting and design capabilities; and unique ‘Engineering DNA,’ EPAM’s globally deployed hybrid teams help make the future real for clients and communities around the world by powering better enterprise, education and health platforms that connect people, optimize experiences, and improve people’s lives.

Selected by Newsweek as a 2021 Most Loved Workplace, EPAM’s global multi-disciplinary teams serve customers in more than 40 countries across five continents. As a recognized leader, EPAM is listed among the top 15 companies in Information Technology Services on the Fortune 1000 and ranked as the top IT services company on Fortune’s 100 Fastest-Growing Companies list for the last three consecutive years. EPAM is also listed among Ad Age’s top 25 World’s Largest Agency Companies and in 2020, Consulting Magazine named EPAM Continuum a top 20 Fastest-Growing Firm.

Learn more at www.epam.com and follow us on Twitter and LinkedIn.

Emakina Group SA
Rue Middelbourg 64A
1170 Watermaal-Bosvoorde
- - -
VAT 0464.812.221