Gentrack Strengthens Veovo with $17m Dubai Airport Tech Acquisition

Strategic Acquisition Targets Middle East Airport Tech Leadership

Gentrack (NZX:GTK) is expanding its Veovo airport operations software business with the acquisition of Dubai Technology Partners (DTP), a leading Middle Eastern airport technology provider. The deal, valued at approximately US$10 million (around NZ$17 million), brings immediate scale and AI capabilities to Veovo’s global network of over 150 airports.

DTP’s portfolio includes the AI-enabled AirportView app, the tNexus Message Hub, and advanced operations systems, all designed to streamline airport planning and operations. These technologies are expected to be integrated as high-value "bolt-ons" to Veovo’s existing platform, enhancing intelligent automation and data connectivity across airport systems.

Founded in 1997, DTP has built a strong reputation in the Middle East, serving flagship airports in Dubai, Abu Dhabi, and Saudi Arabia. The company employs over 60 professionals with deep domain expertise, reinforcing Veovo’s regional momentum in a market undergoing rapid digital transformation and infrastructure growth.

Financial Impact and Funding Structure

Gentrack plans to fund the acquisition entirely from existing cash reserves, avoiding any immediate capital raising. Depending on the completion date, expected within a month subject to customary conditions, the deal is forecast to add approximately NZ$3.5 million in revenue to Veovo’s FY26 results. The acquisition is anticipated to be marginally EBITDA accretive before acquisition costs, with low integration expenses focused on cross-selling opportunities to drive growth beyond FY26.

This transaction aligns with Gentrack’s strategic vision to capitalize on the Middle East’s airport expansion boom, which includes two of the world’s largest airports currently under construction and 48 expansion projects valued at US$182.6 billion. The region’s 10 largest carriers have also ordered around 800 new aircraft, underscoring strong demand for advanced airport operations technology.

Enhancing Veovo’s AI-Centric Portfolio and Regional Reach

DTP’s expertise in machine learning and domain-specific models complements Veovo’s capabilities, particularly through the AirportView app that improves information distribution; a key differentiator in airport operations. The tNexus Message Hub provides a robust integration backbone, critical for total airport management strategies that require seamless communication across diverse systems.

The acquisition also expands Veovo’s footprint in the Middle East, a region Gentrack views as the "Airport Hub of the World." This move builds on the existing partnership between Veovo and DTP since 2019, which was instrumental in securing contracts with major airports in Dubai and Saudi Arabia. The deal positions Gentrack to leverage these relationships and accelerate its growth trajectory in this dynamic market, as highlighted by the recent airport technology expansion in the Middle East.