Muscat: ITHCA Group today signed an investment agreement with US firm Lumotive in the field of programmable semiconductors. The agreement was signed by Eng. Said Abdullah Al Mandhari, CEO of ITHCA Group, and Sam Heidari, CEO of Lumotive.

According to Oman News Agency, the investment constitutes a strategic step in the march of ITHCA Group, boosting its role in supporting global innovators and backing the Sultanate of Oman's semiconductor ambitions. It also aligns with Oman's national digital transition plan under Vision 2040, which seeks to promote Oman as a regional hub for advanced technologies and a knowledge-based economy.

Lumotive has received international recognition, including three CES Innovation Awards and an advanced place on the "Next Big Thing in Tech" list. This affirms the US firm's role as a game-changer in the field of optical semiconductors.