Pacific Control Systems to use AED1 billion funding for cloud and data centre infrastructure

NBF Capital, regulated by the Dubai Financial Services Authority and a fully-owned subsidiary of National Bank of Fujairah (NBF), has raised AED1 billion for Pacific Control Systems (PCS), a global provider of information communication technologies. 

PCS plays a major role in the UAE's ongoing transformation into a knowledge-based economy. It has positioned itself as a leader in providing smart city solutions and cloud infrastructure service in the Middle East. The overwhelming interest that was received for the transaction is not just an endorsement of PCS' prospects, but also a demonstration of the institutional goodwill that can be mustered by NBF Capital on behalf of its clients. 

PCS intends to use the amount, which has a tenor of 72 months, to finance its expansion and working capital requirements. New smart city offerings and a cloud-based IT-as-a-service offering for both government and private sector have had huge market acceptance due to the secure, end-to-end service delivery packaging by PCS.

Today, PCS is addressing a market opportunity of over US$360 billion in the Middle East alone. The funds raised through the current syndication from NBF will enhance the capacity in data centre infrastructure, increase cloud services infrastructure and offer automated service portals and related services for customers in the GCC. PCS has partnered with Microsoft to deliver these services in the region.