• Enhancing Veovo's AI-centric portfolio with DTP's innovative technologies
• Expanding Veovo's global scale and regional momentum in the Middle East
• Purchase price of US$10 million, funded from Gentrack's existing cash reserves

Gentrack Group Limited (NZX/ASX: GTK) has announced that it has entered into a sale and purchase agreement to acquire Dubai Technology Partners (DTP), a premier airport technology and services provider based in Dubai, in the United Arab Emirates. The acquisition will be integrated into Gentrack's airports division, Veovo, expanding its product portfolio, global delivery scale, and footprint in the Middle East. The strategic rationale includes enhancing Veovo's AI-centric portfolio by integrating DTP's innovative technologies as high-value 'bolt-ons', and expanding Veovo's regional scale and momentum by leveraging DTP's deep domain expertise and flagship Middle Eastern customers. The purchase price is an enterprise value of US$10 million (approximately NZ$17 million), subject to customary completion adjustments, and will be funded entirely from Gentrack's existing cash reserves. Depending on the final completion date, the acquisition of DTP is expected to add approximately NZ$3.5 million of revenue to Gentrack's Veovo business across the remaining 4 months of FY26, with the acquisition expected to be marginally EBITDA accretive (before acquisition costs) in FY26. The cost of integration is expected to be low, with a focus on cross-sales activities aimed at driving growth in FY27 and onwards.

Depending on the final completion date, the acquisition of DTP is expected to add c.NZ$3.5m of revenue to Gentrack's Veovo business across the approximate 4 months remaining in FY26. The acquisition is expected to be marginally EBITDA accretive (before acquisition costs) in FY26.