#acquisition

UAE’s proptech Huspy acquires mortgage consultancy Home Matters

Combined proptech entity will facilitate financing for gross merchandise value of over $1bn annually in the UAE and Europe

Alpha Dhabi Holding raises stake in Aldar Properties to 30%

Alpha Dhabi Holding has completed the acquisition of Sublime 2, Sogno 2 and Sogno 3, which together own 17 per cent of Aldar Properties

EFG Hermes advises TPG’s Evercare Group on $72.4m IDC deal

IDC, a radiology and pathology diagnostics service provider in Pakistan, provides imaging and lab services across a national network of over 80 branches in 30 cities

Bahrain’s financial group acquires US medical offices for $200m

Spread across seven states, the medical offices portfolio consists of 11 assets and 400,000 square feet of space

UAE’s Etisalat Group to acquire 100% of elGrocer

Founded in 2015, elGrocer is an online marketplace for groceries operating across the UAE

Shailesh Dash

Charting the growth of SPACs

Are special purpose acquisitions companies becoming a serious alternate funding avenue for private companies?

Biggest Abu Dhabi developer is shopping for large property deals

The company, armed with $1.85bn in capital, has the resources to make purchases both in its home market and around the UAE

Xylem expands footprint in Turkey with acquisition of Anadolu Flygt

Prior to the acquisition, Xylem held 46 per cent shares of Anadolu Flygt

merger and acquisition

Forcepoint acquires Bitglass to strengthen its SASE platform

Over the past five years, Bitglass has delivered 99.99 per cent availability, ensuring users can securely access the resources they need to be productive

MERGER & ACQUISITION

NetApp to acquire CloudCheckr to boost Spot services

NetApp continues to invest in the innovation and growth of the Spot as a core component of its cloud strategy

Merger and Acquisition

Emplifi acquires live commerce software provider Go Instore

Acquisition of live commerce Go Instore will give B2C brands faster connection-to-conversion experiences in-store and online

MERGER & ACQUISITION

Entrust acquires Paris-based card issuance firm Antelop Solutions

With this acquisition, Entrust can help banks and financial institutions worldwide create seamless payment experiences for their customers

Dubai’s Aramex in discussions to acquire Turkey’s MNG Kargo

Discussions are still in the early stages

Sitecore acquires AI-powered digital search platform Reflektion

The acquisition is a part of Sitecore’s continuing $1.2bn expansion strategy

MERGER & ACQUISITION

Dubai’s Swvl to enter Europe, APAC and LATAM via Shotl acquisition

Localised mass transport focus enables Swvl to capitalise on trends in electrification and autonomous driving

Sophos

Sophos acquires Braintrace to strengthen its adaptive cybersecurity ecosystem

Third Party event data from firewalls, proxies, VPNs, and other sources will be collected and forwarded using Braintrace’s technology

Sajwani’s Maple Invest postpones acquisition of Damac Properties

On June 9, Hussain Sajwani offered to acquire 100 per cent of the listed company via Maple Invest

Egypt’s sovereign fund, EFG Hermes partner to acquire control of Arab Investment Bank

The transaction will be structured as a capital increase that will raise the paid-in capital of the bank to EGP5bn

Abu Dhabi’s Aldar considering more deals in Egypt real estate

The developer may invest between $1bn to $1.5bn in the next 12- to 18 months on acquisitions abroad and at home

First Abu Dhabi Bank acquires 100% of Bank Audi Egypt’s share capital

The proceeds will help strengthen Bank Audi group’s capitalisation and financial resilience

RSH 1

Dubai’s GMG acquires Southeast Asian sports retailer Royal Sporting House

GMG will now operate over 550 sports retail stores in 57 cities across 12 countries

Bahrain’s Investcorp acquires cereal and coffee company Viz Branz

Viz Branz has approximately 1,300 employees with manufacturing facilities and operations in China and Myanmar

Saudi bank NCB plans $15.6bn takeover of rival Samba

The combined bank would have total assets of about $210bn, making it the third largest in the region behind Qatar National Bank and First Abu Dhabi Bank

sabic

Oil giant Saudi Aramco completes $70bn takeover of SABIC

Aramco will push back the bulk of installments until after 2022 and delay the final one by three years until 2028

sabic

Aramco begins taking SABIC stake in $69bn of block trades

Aramco will pay $24.8bn this week as a first installment in the deal

Is it an opportune time to sell your business in the UAE?

A sound and consolidated service provider can assist owners in selling their businesses

No acquisition by US-based bank, clarifies Dubai lender Emirates NBD

The bank stated that 101,731,408 of its shares were purchased by 254 unique investors on May 28