Catalyst Qatar buys German technology firm Kunst Stoff

Catalyst Qatar, which is involved in the design and development of software applications and games, has announced the acquisition of German electronic media company Kunst Stoff.

The agreement was signed in Berlin on the sidelines of the “4th Annual Qatari-German Joint Committee Meeting” and in the presence of HE the Minister of Economy and Commerce Sheikh Ahmed bin Jassim bin Mohamed al-Thani and ambassadors Abdulrahman bin Mohamed al-Khulaifi of Qatar and Angelika Storz-Chakarji of Germany.

Catalyst is one of the first private Qatari companies to invest in the technology sector. It hopes to provide technical skills and specialised knowledge of technology, both uncommon in Qatar and the region, the company said in a statement.

Catalyst founder and CEO Sheikh Turki bin Faisal al-Thani said, “The technology sector and computer engineering have been witnessing major developments on a global scale, as can be seen by its positive impacts on education, health, entertainment, and other fields.”

He said among the factors that encourage investment in technology include the country’s economic success, youth population, and the development of telecommunications infrastructure. Catalyst aims to attract specialised technology skills to Qatar and transform the country into the region’s expertise hub, Sheikh Turki said.

He also noted that the company hopes to teach young people about technology by establishing specialised training centres in computer engineering, the design and development of programmes, applications, games, and other forms of interactive electronic media.

“German companies are known experts in the technology sector and we are very pleased with our acquisition of Kunst Stoff, which is a specialist in the field. We consider this the first of many steps we will take towards achieving our goals and establishing Qatar as the centre of technical skills, education, and business within the technology sector,” he added.

Kunst Stoff founder Patrick Rau said there are many similarities between Berlin and Doha: The two have undergone many changes and experienced rapid development in the past few years.

“We look forward to working with Catalyst and to contribute to the strengthening and development of young talent in Qatar. I am certain that this collaboration will be in the best interests of both parties involved,” Rau stressed.