ABU DHABI (ALETIHAD)
Emirates Driving Company (EDC), listed on the Abu Dhabi Securities Exchange and a subsidiary of 2PointZero, has announced its intention to acquire a 51% majority stake in UAE-based artificial intelligence solutions firm Performise Labs.
The strategic move aims to accelerate technological transformation in the fields of mobility, driver testing and training, as well as vehicle inspection, a media statement issued by EDC said.
The statement, however, did not disclose the cost of the transaction.
Founded in 2024, Performise Labs has achieved rapid growth through AI-powered solutions, including the Intelligent Virtual Examiner (iVE) system, which enables fully automated yard tests with real-time monitoring, biometric verification and measurement accuracy of up to 2 cm.
The company has secured key contracts with the Roads and Transport Authority in the UAE and is pursuing expansion opportunities in Saudi Arabia, Qatar, and Jordan.
The company’s solutions can be scaled to include autonomous vehicles, ports, industrial zones and smart city infrastructure.
Emirates Driving said the acquisition reflects its commitment to advancing digital transformation and leveraging cutting-edge technologies to enhance the quality of services provided to customers.
The integration of Performise Labs’ solutions is expected to increase operational efficiency and accuracy while enhancing the trainee experience across all stages of education and testing.
Khaled Al Shemeili, Chief Executive Officer of Emirates Driving, said, “This acquisition represents a pivotal step in our journey toward a smarter and safer future for driver education. By partnering with Performise Labs, we are placing ourselves at the forefront of innovation, where artificial intelligence technology can be practically applied to real-world mobility scenarios.”
He added, “This move is part of our long-term strategy to build a strong and integrated portfolio of smart mobility solutions and to solidify our position as a key driver of innovation in the driver education sector and advanced technology applications.”
Enes Reda, Chief Executive Officer of Performise Labs, said, “We welcome Emirates Driving as a new major shareholder in Performise Labs. This milestone marks a pivotal moment where together we realise our joint aspiration for the mobility sector. This partnership will accelerate the development of our AI-based solutions and expand their applications, enabling us to deliver more advanced and efficient technologies in driver testing and training, as well as broader smart mobility solutions.”
Emirates Driving recently announced its strategic direction to transition to Emirates Mobility, an integrated platform focused on the mobility sector. Alongside EDC, the Emirates Mobility portfolio will include companies such as Excellence Premier Investment Group, Mwasalat Holding and ChargePoint. Completion of this transition remains subject to relevant legal and regulatory procedures and approvals in accordance with applicable frameworks in the UAE.