Oman's Idhkaa Invests in US Semiconductor Firm Lumotive to Boost Local Tech Hub Ambitions
Omani investment group Idhkaa Omaniya (إذكاء العمانية) has made a strategic investment in Lumotive, an American company specializing in programmable semiconductors. This move, part of Idhkaa's second foray into the vital semiconductor sector, aims to support Oman's national digital transformation plan, strengthen its position as a regional semiconductor hub, and establish a local semiconductor design center staffed with Omani expertise.
Omani Investment in US Semiconductor Innovator
In a significant step towards bolstering its technological capabilities, Idhkaa Omaniya has strategically invested an undisclosed amount in the American programmable semiconductor specialist, Lumotive. This partnership is viewed as crucial for advancing Oman's ambitions within the global tech landscape.
Strategic Goals: Oman Vision 2040 and Tech Hub Development
The investment is closely aligned with Oman's national digital transformation objectives and the broader Oman Vision 2040. Key goals driving this initiative include:
Strengthening Oman's standing as a regional center for semiconductor technologies and a knowledge-based economy.
Establishing a dedicated center in Oman focused on semiconductor design, fostering local Omani talent and competencies to meet both regional and international market demands.
Supporting innovation and facilitating knowledge transfer within this critical high-tech sector.
Leadership Perspectives
Eng. Saeed bin Abdullah Al-Manthari, CEO of Idhkaa Group, emphasized the strategic importance of the investment: "Idhkaa's investment in Lumotive reflects the group's commitment to supporting innovation and knowledge transfer... This step represents the group's second investment in this vital sector, with the aim of establishing a center that includes Omani competencies in the design of semiconductors to meet the needs of regional and international markets."
Wissam Haidari, CEO of Lumotive, expressed enthusiasm for the collaboration, stating, "Lumotive looks forward to expanding its presence in the region through cooperation with local partners in the Sultanate of Oman, especially in the areas of research, development, and technical design."
About Lumotive
Lumotive is an American technology company that specializes in the field of programmable semiconductors. Their innovative solutions are key components in various advanced technological applications.
About Idhkaa Omaniya
Idhkaa Omaniya (part of the Idhkaa Group) is an Omani entity focused on strategic investments that drive innovation, knowledge transfer, and the development of high-value sectors within the Sultanate of Oman. This investment in Lumotive marks its second significant commitment to the semiconductor industry.
Looking Ahead
This strategic investment by Idhkaa Omaniya in Lumotive is poised to create a synergistic relationship, benefiting both entities and contributing significantly to Oman's technological advancement. The establishment of a local semiconductor design center will be a key milestone in developing indigenous capabilities and positioning Oman as a competitive player in the regional and global semiconductor value chain, in line with its Vision 2040 aspirations.
Source: Jawlah