Qatari Diar acquires French tech firm Cegelec

Qatari Diar Real Estate Investment Company, wholly owned by the Qatar Investment Authority (QIA), has acquired the French technology services provider Cegelec.
Cegelec designs, installs and maintains systems and sub-systems for the industrial, infrastructure and tertiary sectors. It is an integrated company offering a complete technological service cycle to the customer, from design to installation and maintenance. A global leader in the technological services market for the past 20 years, Cegelec caters for a wide range of clients, including small size enterprises, large international groups, public and local authorities.
 “The acquisition by Qatari Diar is for investment purpose. Cegelec is a huge company with huge capabilities, thus it is an added value to Qatari Diar. The aim is to have technology transfer and to improve our human resources capabilities in various fields,” he said.
He added that Qatari Diar will be utilising the Cegelec training facilities to improve its human resources. “We are working on setting up a training facility in Qatar and we will be coordinating in setting up common programmes to improve our HR capabilities utilising Cegelec experience,” he said.
The main line of business of the newly acquired Cegelec will be infrastructure, power, oil and gas. The company which is well established in Europe will continue to concentrate on its earlier activities in Qatar.
“Now we will be concentrating more in Qatar and we are working to open a Cegelec office for the Middle East in Qatar,” Claude Darmon, President of Cegelec told reporters after announcing the acquisition of the company by Qatari Diar.
Qatari Diar officials said that as part of its family, Cegelec will now benefit from a stable backer, combining financial strength and strong experience in successful partnerships with major international groups.
Qatari Diar will further reinforce Cegelec’s position in its key markets, particularly in France and Europe, and support its international and regional development, especially in the Middle East, and most importantly, in the local Qatari market, the officials said.
As Qatar benefits from significant economic and urban growth, Cegelec will open new perspectives, technologies, and services to the Qatari market, and provide a new driving force towards technology innovation and excellence.
Cegelec, a customer oriented organization with geographically-based units and a cross-border entity will be providing solutions and services in specific fields such as oil and gas, energy, power generation, telecommunications networks, infrastructure and industrial maintenance.