Acquisitions

Following the acquisition, Chabaka will now become a part of UMG's Virgin Music Group, where it will work closely with the local Virgin and UMG teams in the region.

"GMG is fundamentally a growth company with long-term global ambitions."

The Qode co-founders share their experience to offer insights for other entrepreneurs navigating their way from startup to stability, growth, and success.

The acquisition comes as part of Labayh's strategy to enhance the state of psychological well being in the Arab world, by creating unique mental health-focused experiences for its users.

The deal is said to be part of Kitopi's ongoing strategy to invest in and grow much-loved regional brands, and then take them global.

Paymennt co-founder Tarek Ghobar believes his entreprise is well-positioned to contribute towards Hala's vision of becoming a one-stop-shop for SMEs.

The acquisition is expected to bring together operational synergies between Shopini's e-commerce solutions and international network and Lyve's technology and logistics infrastructure in the MENA region.

"Understand that acquiring a business is not about integrating but instead about accelerating the overall vision of the company."

A fintech enterprise, Denarii was launched in 2019 by Jon Santillan and Walfrido Perez as a platform that integrates fintech companies and financial institutions with remittance aggregators, banks, exchanges, and wallets globally.

The Careem Food and MUNCH:ON teams will work together to introduce low-cost meal segments that the latter has pioneered in the region, as well as new food discovery and delivery options for corporates.

Founded in 2019 by Omar Almheiri and Hamza Khan, Letswork enables users to work from a network of coworking spaces, hotels and cafes across the globe via a single membership.

Foodics' acquisition is a strategic move that will help solidify its position and become the market leader in Egypt, Kuwait, Oman and Jordan, while also opening the possibilities for further M&A activities and international expansion.

Jeddah-based Tamer Group is one of the largest regional healthcare distributors with annual turnover of 9.2 billion Saudi riyals and a compound annual growth rate of 11%.

The acquisition of Payguru, which was founded in 2015 and has been the first mobile payment company to receive a license from the financial regulator, will expand Tpay Mobile's offering of alternative payment products and financial technologies and will contribute to further growth across geographies and business lines.

You might be attracted by the brand or the people, but how does acquiring this company fit into your strategy?

The deal will see Careem becoming a wholly owned subsidiary of Uber, though Careem will continue to operate independently under the leadership of current CEO and co-founder Mudassir Sheikha.

Careem acquires the third mass transport app in India in a bid to expand into mass transportation.

The latest transaction saw Abraaj Capital's Riyada Enterprise Development fully exit The Entertainment, while Benton continues as one of the key shareholders and executive management.

As a mobile app that made use of AI to auto-summarize meetings, Wrappup fits it neatly with Voicera's own offering, which leverages a combination of voice recognition, natural language processing, and machine learning to provide attendees of a meeting with a full recording and transcription, as well as high accuracy meeting highlights.

People forget that it is less about what happened in 10 or 30 days, and more about what's been happening in the past 10 years or so.

As the Middle East's corporate landscape continues to develop, there is a growing need for owner-managed businesses in the region to consider, plan and prioritize their succession planning and exit planning.