Multiply Group

What Multiply Group does

Multiply Group (ADX: MULTIPLY) is an Abu Dhabi-based investment holding company, listed on the Abu Dhabi Securities Exchange and operating as a subsidiary of International Holding Company (IHC). The company pursues a buy-and-build strategy, acquiring controlling stakes in cash-generating businesses across media, utilities, consumer, energy, and digital sectors. Its core holdings include BackLite Media and Media 247 in UAE outdoor advertising, a 67.91% controlling stake in Spanish omnichannel apparel group Tendam (Cortefiel, Springfield, Women'secret, Pedro del Hierro), and — following a late-2025 merger with 2PointZero and Ghitha Holding — a diversified portfolio spanning renewable energy, fintech, mining, and consumer businesses across 85+ countries.

Multiply's underlying technology infrastructure centers on the proprietary Pivot platform, developed within the 2PointZero ecosystem, which uses AI-enabled automation to monitor subsidiaries across 85 countries, automate investment research, and accelerate deal execution by approximately 60%. The platform functions as internal portfolio-management tooling rather than a customer-facing product.

Multiply's business model is that of a diversified holding company: revenue is generated through portfolio dividends, asset appreciation, and capital recycling — not through direct product/service pricing. The GTM is sales-led and transaction-driven, characterized by strategic acquisitions and divestitures (e.g., AED 225 million Media 247 stake in 2023, full BackLite Media acquisition in 2024, $1.035 billion PAL Cooling divestiture in 2025, AED 135 billion merger with 2PointZero and Ghitha Holding in late 2025). End customers are reached indirectly through operating subsidiaries serving enterprise clients in advertising, fashion retail, utilities, and energy infrastructure.

Name

Multiply Group

Legal name

Multiply Group PJSC

Website

http://multiply.ae

Company type

Public

Founded year

2003

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Multiply Group is an Abu Dhabi-listed investment holding company under IHC that pursues a buy-and-build strategy across media, energy, consumer, and digital sectors, controlling 50+ subsidiaries across 85+ countries following its late-2025 merger with 2PointZero and Ghitha Holding.

Ownership category

akta.pro rank

Product category

Investment Holding Company

NAICS

Management of Companies and Enterprises (551), Other Investment Pools and Funds (5259)

akta.pro primary industry

Co-Investment Aggregators & Multi-Manager Co-Invest Vehicles (FSAHAKAJ)

akta.pro secondary industry

Multi-Asset Fund-of-Funds & Multi-Manager Allocation (FSAAAJAI)

Keywords

• Investment holding company
• Portfolio management services
• Outdoor advertising media
• District cooling utilities
• Fashion retail operations

Headquarters

HQ city

Abu Dhabi

HQ country

United Arab Emirates

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Investment Returns and Portfolio Dividends: Multiply Group generates returns through dividends and value appreciation from its portfolio companies including media (BackLite Media, Media 247), district cooling (PAL Cooling Holding), fashion (Tendam), and other investments. The company also benefits from asset consolidation and synergies across subsidiaries.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels3 records

Core offering

Multiply Group is an Abu Dhabi-based investment holding company that invests in and manages a diversified portfolio of cash-generating businesses across media, utilities, energy, mobility, fashion retail, wellness, and digital sectors. The company pursues a buy-and-build strategy, acquiring controlling stakes in operating companies such as BackLite Media, Media 247, and Tendam, and creating synergies across its 50+ subsidiaries. Following the November 2025 merger with 2PointZero Group and Ghitha Holding under International Holding Company, the combined entity holds AED 135 billion in total assets and operates across 85+ countries.

Product overview

Multiply Group is a UAE-based holding company listed on the Abu Dhabi Securities Exchange, operating as a diversified investment portfolio across multiple business segments. The company's structure includes Media & Communications (outdoor advertising through BackLite Media and Media 247), Utilities (district cooling and energy), Mobility, Wellness & Beauty, Digital Economy, and Energy (via subsidiary 2PointZero Group). Following a November 2025 merger, Multiply Group combined with 2PointZero and Ghitha Holding under International Holding Company's umbrella to form a Dh134 billion entity operating across 85+ countries. The company also holds a controlling 67.91% stake in Spanish fashion group Tendam.

Differentiator

Problem solved

Functional benefit

Products and services

• Media & Communications

Quantifiable outcome

• 40,000+ employees across 50+ subsidiaries in 85+ countries
• +1 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Scale indicators8 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• International Holding Company (IHC): Abu Dhabi-listed diversified holding company and parent of Multiply Group; operates across similar multi-sector portfolio including media, utilities, food, and real estate with a comparable buy-and-build strategy and government-linked governance model.
• Dubai Holding: Diversified global investment conglomerate owned by the Government of Dubai operating across real estate, hospitality, media, and technology; directly comparable as a UAE government-linked diversified holding company with media and consumer exposure.
• Chimera Investments: Abu Dhabi-listed investment company with diversified holdings across logistics, real estate, and consumer sectors; closely comparable as a regional holding vehicle pursuing similar multi-sector acquisition strategies.
• Waha Capital: Abu Dhabi-listed investment company managing principal investments and a diversified portfolio across sectors including energy, healthcare, and financial services; comparable as a smaller-scale UAE diversified investment holding entity.
• Alpha Dhabi Holding: Abu Dhabi-listed diversified holding company with major stakes in construction, healthcare, real estate, and industrial sectors; comparable as a regional diversified holding vehicle with similar multi-sector buy-and-build approach.
• Investcorp: Bahrain-headquartered alternative investment firm with global asset management and private equity operations across consumer, technology, and financial services; comparable as a Middle East-anchored investment platform pursuing cross-border acquisitions.

Broad incumbents

• Abu Dhabi Developmental Holding Company (ADQ): Abu Dhabi government-owned holding company managing a diversified portfolio of critical infrastructure and consumer-facing businesses; comparable as a regional sovereign-affiliated investment holding platform, though significantly larger and broader in scope.
• Mubadala Investment Company: Abu Dhabi sovereign wealth investor with a global diversified portfolio spanning energy, technology, healthcare, and consumer; relevant as a regional capital allocator with comparable buy-and-hold discipline and government backing.
• Investment Corporation of Dubai (ICD): Principal investment arm of the Government of Dubai managing a diversified portfolio of strategic assets across transport, real estate, and financial services; comparable as a UAE government-linked diversified holding company.

Regional players

• Abu Dhabi National Energy Company (TAQA): Abu Dhabi-listed integrated utilities and energy company partially owned by ADQ; comparable as a regional government-backed energy and infrastructure platform overlapping with Multiply's energy transition and utilities exposure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/MultiplyGroupAE
• Facebookfacebook.com/multiplygroupae

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A4 records

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Multiply Group