Tech Universal Ventures (TUV), a UAE-based investment holding firm, has made a bold move in the tech space by acquiring FixSquad (UAE) and ELVA11 (Sweden) to scale intelligent services and boost its global footprint, with a strong focus on the Gulf markets and international expansion.
FixSquad, known for its fast-growing electronics servicing operations across consumer and enterprise segments, is rolling out a regional franchise model to unify service delivery and deepen its B2B partnerships.
Meanwhile, ELVA11, with operations in Malmö and Stockholm, brings to the table a robust AI and software engineering core paired with scalable consulting and educational services.
“These acquisitions reflect our strategy to build and back companies delivering core infrastructure for digital growth,” said Darko Atijas, Chief Operating Officer at TUV.
“FixSquad’s hybrid consumer-enterprise model positions it as a foundational player in regional service delivery, while ELVA11 brings AI-native capabilities we believe will define the next era of global software.”
How TUV is Accelerating Regional Rollouts and AI Innovation
For FixSquad, the TUV acquisition is set to supercharge regional growth. “We’ve built FixSquad on the principles of reliability, scale, and smart service,” said CEO Mohamed Rafeeque.
“With TUV’s backing, we’re now accelerating our regional rollout and expanding our B2B offering to meet the demands of a fast-evolving digital services market.”
Sweden’s ELVA11 sees this as a pivotal moment. “We are incredibly excited about our new partnership with TUV,” said founder and CEO Jim Roslund.
“Their strategic insight and innovation-driven mindset are perfectly aligned with our mission. This investment… gives us the resources to scale faster and serve our clients even better.”
The acquisitions align with TUV’s larger playbook of building a connected, scalable tech ecosystem across system integration, technology servicing, and education-led infrastructure.
They also reinforce the UAE’s status as a regional M&A powerhouse, with 96 inbound deals worth $7.6 billion in 2024, accounting for 67% of all inbound deal value across MENA.
TUV, it seems, is betting on the region’s digital future, and stacking its portfolio with the tech to make it happen.
