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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The firm is being sold to Elm, another Saudi company in which PIF holds a 67% stake.
قصص آنية ومفصلة ومكتوبة بعناية من المنطقة
Timely, detailed and well-written stories from the region
Saudi Arabia’s Public Investment Fund (PIF) is selling the tech services firm Thiqah Business Services to digital security firm Elm Company for 3.4 billion Saudi riyals ($907 million), pumping up the wealth fund's reserves.
The share purchase and sale agreement for the acquisition was signed on Wednesday, according to a press statement by Elm. This comes amid the sovereign fund reviewing some of its projects, even as it intends to boost local spending over global investments as the 2030 deadline for Saudi Arabia’s economic overhaul gets closer.
Thiqah is a digital service provider established in 2012. The firm reported a …
آراء حول أحدث التطورات في الأعمال والاقتصاد من محرر الشرق الأوسط
Views on the latest happenings in business and economy from our ME Editor
