Company Overview - Sagtec Global Limited has signed a US$10 million agreement with SMD Tech to develop a smart hospitality technology solution, marking its entry into the US$30 billion smart tourism sector [1][2] - The company specializes in customizable enterprise software solutions, primarily serving the Food & Beverage sector, and is expanding into the hospitality technology domain [7] Contract Details - The contract includes the development and management of a next-generation Hotel Self Check-In/Out System, which encompasses software licensing, systems integration, data analytics, and long-term service and maintenance [2][3] - Over 60% of the contract value is expected to generate multi-year recurring revenue streams, indicating a stable revenue model for the company [3] Market Context - The UAE's hospitality sector is experiencing significant digital transformation, driven by government initiatives and a rebound in travel post-pandemic, with the market projected to reach US$37.7 billion by 2033, growing at a CAGR of 5.2% from 2025 [5][6] - Sagtec's solutions are designed to enhance operational efficiency and customer experience, which are critical for premium hospitality operators in the region [6] Strategic Importance - The partnership with SMD Tech is seen as a strategic move that not only showcases Sagtec's innovation capabilities but also opens new market opportunities in a rapidly growing tourism economy [4]
Sagtec Global (NASDAQ: SAGT) Accelerates Middle East Expansion with US$10 Million Smart Hospitality Tech Deal in UAE