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News: PTL spins off business units to form two new companies
June 22, 2017
As from July 1, PTL, the IT service provider, will spin off its business analytics and business applications units to form two new independent companies. All three companies, along with electronic payments specialist APCO Systems and merchant services and security firm APCO Ltd, are part of Harvest, the technology division of Hili Ventures.
Business analytics solutions and consultancy services will now be provided by Eunoia while Stride Technology will market business applications. Both companies retain their teams and team leaders and will continue to be based within the Harvest Technology offices in Marsa. This reorganization of its business lines allows PTL to sharpen its focus on its main offerings, namely software engineering and technical solutions. Its portfolio includes infrastructure services, databases and middleware, cloud services, system integration, networking, and hardware and software development.
Designed over the past 12 months, these developments are part of a wide-reaching strategy to better position Harvest’s collection of technology companies on the market with a view to long-term sustainable growth.
“The teams at PTL, Eunoia and Stride Technology each service a wide cross-section of business customers,” Peter Bugeja, General Manager at PTL, explained. “This new structure ensures there are fully-fledged specialists, directing all their energy towards their customers and their partners, and driving their business to reach greater potential. We are confident this enhanced focus will give rise to further innovation, strengthen relationships with existing customers and partners, and present additional opportunities across numerous sectors.”
Harvest Chairman Juanito Camilleri added: “Portfolio management is critical in the technology sector’s rapidly evolving environment. It is our business to eye the future – not only to support our customers in the deployment of the most advanced technologies and systems, but also to ensure that each company in our portfolio is best placed to deliver. We have had the foresight to direct investment into lines-of-business with strong growth potential. We are committed to nurture our companies to attract the best talent to service the evolving needs of our most ambitious customers, and in the process forge reliable and innovative brands.”