Fawry to acquire EME International’s fintech division

M&A WATCH- Fawry to acquire EME International’s fintech division: E-payment platform Fawry is fully acquiring mobility solutions provider EME International’s fintech division, according to an emailed statement (pdf). The value of the transaction was not disclosed. EME, which was founded by Nader Iskander in 2004, “has three separate mobile development divisions, one of which has been dedicated to mobile fintech development for Fawry the past ten years.” EME is now planning to invest its resources in launching new divisions while growing its core divisions, including “innovative mobile sales, distribution and operations solutions for FMCG customers as well as its signature division focused on mobile marketplaces in transportation, healthcare, microfinance and human capital management.”