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IHC-backed Palms Sports has renewed a government Jiu-Jitsu training contract for a further two years for AED 240 million ($65.3 million).
The partnership between the two companies was launched in 2015, with Palms Sports now the world’s largest provider of Jiu-Jitsu training.
The company said in a stock market filing that it will continue to avail 350 Jiu-Jitsu and tactical defence specialists to enhance the physical readiness of those taking part in the programme.
Palms Sports said it is actively exploring opportunities for investment, diversification, and expansion in other business domains.
(Writing by Imogen Lillywhite; editing by Seban Scaria)