The Emirates Driving Company, listed on the Abu Dhabi Securities Exchange, has announced its intention to acquire a majority stake of 51% in Performize Labs, a firm specializing in artificial intelligence solutions.
This initiative aims to accelerate technological advancements in the areas of mobility, driver testing and training, as well as vehicle inspections.
The transaction is subject to regulatory approvals and the fulfillment of closing conditions.
According to Khaled Al-Shamili, the CEO of Emirates Driving Company, “This acquisition represents a pivotal step in our journey towards a smarter and safer future in driver education. By partnering with Performize Labs, we position ourselves at the forefront of innovation, enabling the practical application of artificial intelligence technologies in real-world mobility scenarios.”
He further added, “This move aligns with our long-term strategy to build a robust and integrated portfolio of smart mobility solutions, reinforcing our role as a key driver of innovation in the driver education sector and advanced technology applications. It also reflects our ongoing commitment to developing smarter and more efficient operational models, contributing to the UAE’s goals for sustainable mobility.”
Ines Rida, the CEO of Performize Labs, expressed excitement about welcoming Emirates Driving Company as a new major stakeholder. “Together, we will work towards achieving our shared ambitions for the mobility sector. This milestone is a significant achievement for our company and aligns perfectly with our long-term vision and growth strategy.”