ITHCA Injects RO 8 Million into US-Based Movandi for Semiconductor Advancements

Muscat: ITHCA Group has announced a strategic investment of RO 8 million (US$20 million) in Movandi, a US-based leader in semiconductors and smart wireless connectivity solutions. According to Oman News Agency, this investment aligns with ITHCA Group's strategy to strengthen Oman's presence in key technology sectors, including artificial intelligence (AI), semiconductors, and smart communications infrastructure, in line with the objectives of Oman Vision 2040. This vision aims to build a knowledge- and technology-based economy. Eng. Said bin Abdullah Al Manthari, CEO of ITHCA Group, stated that the investment reflects their commitment to building quality partnerships with leading international firms in the fields of semiconductors and wireless technologies. He emphasized that through this partnership, ITHCA aims to transfer knowledge, develop national competencies, and build an integrated ecosystem that reinforces the Sultanate of Oman's position as a regional hub for future technologies and the digital econ omy. Maryam Rofougaran, Co-Founder of Movandi, expressed pride in the partnership with ITHCA Group, highlighting that it paves the way for strategic cooperation between Silicon Valley and the Sultanate of Oman. She noted that they are working with partners in Oman to build a new generation of communication technologies, including 5G, satellite communications, and fixed wireless access (FWA), supported by advanced semiconductor innovations. It is noteworthy that Movandi is one of the world's leading companies in developing RF chipsets, beamforming systems, and smart antennas, which are technologies that enhance performance and reduce the cost of communication networks in both urban and remote areas. With the support of ITHCA Group, Movandi will also open a new office in Muscat to serve as a center for research, development, and regional cooperation in smart communication and artificial intelligence.