Virtuzone Taken Over by Singapore's Ascentium Ascentium to establish a strong presence in the UAE and tap into emerging markets in the GCC region.

Virtuzone, UAE-based provider of company formation solutions, corporate services, and tax consultancy, has been acquired by Ascentium, a Singapore-based global business services platform supporting over 20,000 active clients across 25 cities and nine markets in the Asia Pacific (APAC) region.

This acquisition includes Virtuzone's sister companies Taxready.ae, Next Generation Equity and MAKTABI, and empowers Ascentium to establish a strong presence in the country and tap into emerging markets in the GCC region.

Through this acquisition, Virtuzone clients and partners will have the opportunity to scale globally and reach new markets, such as the Far East and Latin America, while streamlining compliance with international business laws and leveraging cutting-edge AI-powered tools to digitize their processes, boost productivity, and improve customer satisfaction and retention.

Neil Petch, co-founder and Chairman, Virtuzone, said, "As global leaders in the corporate services industry, Ascentium embodies the core values that Virtuzone has upheld over the years, empowering businesses and delivering customer-centric solutions, transformative innovation, and unrivalled service excellence. By combining their business acumen with our local market leadership and expertise, I believe this new era will bring significantly greater value to our clients, partners and the communities that we serve."

Lennard Yong, Founding Management and Group CEO, Ascentium added, "We are pleased to expand in the GCC through the acquisition of Virtuzone and we welcome them to the Ascentium group. Their expertise and commitment to excellence will bolster our organisation and drive us towards our strategic goals. Virtuzone's strong presence in the Middle East complements our existing capabilities and together we look forward to achieving new milestones and delivering exceptional value to our global clientele."

George Hojeige, Group CEO, Virtuzone, added, "We are excited to join the Ascentium family where our shared values and vision will drive us towards even greater success. The opportunities ahead for Virtuzone within Ascentium are truly promising, especially in expanding our reach in the Asia-Pacific region. Ascentium's global network and expertise will enrich our service offerings both in activities and in regions covered, and allow us to deliver tailored solutions to our clients, further solidifying our position as a leader in the corporate solutions sector."

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