Emirates Driving Education intends to acquire a majority stake in Performize Labs
Abu Dhabi, February 20 / WAM / Emirates Driving Company, a subsidiary of 2PointZero Group, announced its intention to acquire a majority stake of 51% in Performise Labs, a leading company in the UAE specializing in artificial intelligence solutions.
This strategic step aims to accelerate the technological transformation in the areas of mobility, driver testing and training, in addition to vehicle inspection. Completion of the transaction is subject to obtaining regulatory approvals and meeting closing conditions.
Performize Labs was founded in 2024, and has achieved rapid growth thanks to its innovative solutions enhanced by artificial intelligence, the most prominent of which is the Intelligent Virtual Examiner (iVE) system, which allows conducting yard tests in a fully automated manner with real-time monitoring, biometric verification, and a measurement accuracy of up to 2 cm.
The company has succeeded in concluding major contracts with the Roads and Transport Authority in the UAE, and continues to seek expansion into the markets of Saudi Arabia, Qatar and Jordan.
Performize Labs supports the development of advanced solutions that are scalable to include autonomous vehicles, industrial parks, ports, and smart city infrastructure.
This step reflects the Emirates Driving Company’s commitment to enhancing digital transformation efforts and adopting the latest technologies in the sector, which contributes to improving the quality of services provided to customers.
The acquisition will also enable the company to integrate the latest Performize Labs solutions into its operational system, enhancing efficiency and accuracy, and improving the trainees’ experience at all stages of education and testing.
Khaled Al Shamili, CEO of Emirates Driving Education, said that this acquisition represents a pivotal step in the company’s journey towards a smarter and safer future in the field of driving education, noting that through the partnership with Performize Labs, the company is placing itself at the forefront of innovation, as artificial intelligence technologies can be practically employed in realistic transportation scenarios, which contributes to enhancing our services and providing high-quality testing and training experiences that meet the aspirations of individuals and society, while raising levels of road safety.
He added that this step comes within a long-term strategy to build a strong and integrated portfolio of smart mobility solutions, and to consolidate the company’s position as a major driver of innovation in the driver education sector and advanced technology applications. It also reflects the continued commitment to developing smarter and more efficient operating models, and contributing to achieving the UAE’s goals in the field of sustainable mobility.”
For his part, Enis Reda, CEO of Performize Labs, welcomed Emirates Driving Education Company as a new major shareholder in Performize Labs, where work will be done to achieve the common ambition for the mobility sector, pointing out that this station represents an important achievement in the company’s journey and reflects complete alignment with our long-term vision and growth strategy.
He explained that this partnership will contribute to accelerating the development of Performize Labs solutions based on artificial intelligence and expanding the scope of their applications, enabling them to provide more advanced and efficient technologies in the areas of driver testing and training, as well as broader smart mobility solutions.
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