Virtuzone acquisition by Ascentium marks strategic move towards Middle East expansion

Staff Reporter, Gulf Today

Virtuzone, the UAE’s leading and award-winning provider of company formation solutions, corporate services, and tax consultancy, announced its acquisition by Ascentium, a Singapore-based global business services platform supporting over 20,000 active clients across 25 cities and nine markets in the Asia Pacific (APAC) region.

This pivotal acquisition — which includes Virtuzone’s sister companies Taxready.ae, Next Generation Equity, and MAKTABI — reinforces Virtuzone’s leadership in the UAE’s business landscape and empowers Ascentium to establish a strong presence in the country and tap into emerging markets in the Gulf Cooperation Council (GCC) region.

Neil Petch, Chairman and Co-founder of Virtuzone remarked, “As global leaders in the corporate services industry, Ascentium embodies the core values that Virtuzone has upheld over the years, empowering businesses and delivering customer-centric solutions, transformative innovation, and unrivalled service excellence. By combining their business acumen with our local market leadership and expertise, I believe this new era will bring significantly greater value to our clients, partners, and the communities that we serve.”

Through this acquisition, Virtuzone clients and partners will have the opportunity to scale globally and reach new markets, such as the Far East and Latin America, while streamlining compliance with international business laws and leveraging cutting-edge, AI-powered tools to digitise their processes, boost productivity, and improve customer satisfaction and retention.

Lennard Yong, Founding Management and Group CEO of Ascentium added, “We are pleased to expand in the GCC through the acquisition of Virtuzone and we welcome them to the Ascentium group. Their expertise and commitment to excellence will bolster our organisation and drive us towards our strategic goals.