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Raya Holding for Financial Investments, the Cairo-based group founded by Egyptian tycoon Medhat Khalil, signed three memorandums of understanding to expand its cloud computing and cybersecurity business, including one with U.S. software company Nutanix Inc.
The agreements were signed on the sidelines of the Cairo ICT 2026 technology exhibition and disclosed to the Egyptian Exchange on Nov. 8. No financial terms were given.
The deal with Nutanix was signed by two Raya units, Raya Integration and Raya Data Center. It sets out how the companies will jointly pursue cloud projects in Egypt for government bodies, large companies and commercial clients, covering the pre-sales stage from spotting opportunities to preparing bids and negotiating. It builds on Raya's existing relationship with Nutanix under the U.S. company's Elevate Partner Program.
The second agreement, with EgyHosting, covers cloud services, the joint development of products and the sharing of business leads and technical know-how.
The third, with Egex Consultant for Consulting and Innovation, focuses on startups. Under Raya's Cyber Plus program and its Raya Cloud Stars initiative, eligible young companies will get cloud computing and virtual hosting, some cybersecurity services and technical advice.
Raya said the agreements support its plan to grow its technology portfolio by launching dedicated artificial intelligence and cybersecurity companies, expanding its data centers and managed services, and building on its work in banking technology and systems integration.
The group used the same exhibition to launch Raya Cyber Solutions, a new arm of Raya Information Technology that offers more than 45 security services with a team of over 100 certified consultants. "Our goal is to help organizations make more informed security decisions," said Marwa Abbas, chief executive officer of Raya Information Technology.
Raya has been putting more money into data centers. In September, its board approved up to $60 million to fund a proposed purchase of an Egyptian data center facility through a capital increase in Raya Data Center. The target has not been named and the deal has not been completed.
The push comes as profit slips. Raya's net profit attributable to shareholders fell 17.15% to EGP739.1 million ($13.4 million) in the first half of 2026. The group reported revenue of EGP63.8 billion ($1.15 billion) for 2025.
Khalil built Raya from a technology distributor into a conglomerate whose businesses span IT services, call centers and outsourcing through Raya CX, electronics, electronic payments, microfinance, logistics, food and restaurants. He is the group's chairman and its largest individual shareholder, with a 17.67% stake.
Figures were converted at EGP55.34 to the dollar.
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