DreamFolks acquires majority stake in Dubai's ETT Solutions for $4m

DreamFolks Services Limited has announced the acquisition of a 60.24% stake in ETT Solutions DMCC ("ETT"), a Dubai-based airport services distribution platform, for a total consideration of approximately $4 million. The acquisition will be achieved through a combination of secondary share purchases and primary subscriptions to freshly issued shares, making ETT a foreign subsidiary of DreamFolks upon completion within 120 business days. The deal, approved by DreamFolks' board of directors on December 1, 2025, aligns with DreamFolks' strategy to expand into international markets and build a globally integrated mobility ecosystem.

ETT, incorporated on April 13, 2023, operates across 120 countries and 500 airports, providing services such as lounge access, fast track, meet and assist, and global eSIM services. Provisional financial statements for the ten months ended October 31, 2025, show ETT with AED 50,000 in share capital, 0.3 mn AED net worth, 7.6 mn AED turnover, and 0.8 mn AED PAT.

This acquisition is expected to strengthen DreamFolks' global lounge business, enhance its digital delivery infrastructure by integrating ETT's international network and advanced technology, and diversify client offerings and new services. The completion is subject to procedural closing conditions, including filing Overseas Direct Investment documentation and updating shareholding records by the Dubai Multi Commodities Centre Authority.