Agenor Technology in '˜strategic' UAE deal

Cloud software specialist Agenor Technology is celebrating after inking a 'strategic agreement' with a major bank in the United Arab Emirates (UAE).

The firm, which has operations in Edinburgh and the Borders, said the bank had agreed an enterprise subscription for its ICEFLO cloud service.

The technology helps businesses to plan and run complex technology cutovers, minimising the risk of service issues for their customers.

Agenor, which has been creating several hi-tech jobs in the Borders and is eyeing a push into the US market, said the deal arose following the merger of two Abu Dhabi-listed banks.

The combined group is now undertaking a “digital transformation programme” that will integrate the services of the two banks. During this year and next, some 160 banking services will be moved over to the new integrated system.

Agenor chief executive Andy Smith said: “This breakthrough agreement represents a vital precedent for ICEFLO’s adoption by financial sector clients.

“The combination of persistence and our innovative solution means we are well positioned to secure further new business in this key export market.”

The firm praised the support provided by Scottish Enterprise and Scottish Development International in helping to secure new business, saying the “consistent and enduring contribution” of both organisations in the UAE had been “fundamental” to supporting its global aspiration.