“Bell Potter thinks this is a good move by the ASX tech stock,” the broker stated regarding Gentrack’s recent acquisition. Gentrack Group Ltd announced the purchase of UAE-based Dubai Technology Partners for US$10 million. This acquisition aims to enhance Gentrack’s airport services.
Gentrack specializes in billing and CRM solutions for energy, water, and airport industries. The company currently trades at $4.78, while Bell Potter has set a reduced price target of $8.80.
The acquisition brings a team of 60 experts from Dubai Technology Partners, enhancing Gentrack’s capabilities in the growing Middle Eastern market.
The Middle East is projected to see significant growth in passenger traffic, with expected increases of 10.2% in CY26 and 9.5% in CY26, followed by 8.2% in CY27 according to IATA.
There are currently 48 expansion projects in the region valued at $182.6 billion, aimed at supporting this forecasted growth.
The tech sector has faced challenges over the past year, impacting many ASX tech stocks, which now trade below their perceived fair value. However, analysts remain optimistic about Gentrack’s potential following this strategic acquisition.
