Beyon Solutions to acquire controlling stake in Link Development: Beyon Solutions — one of the companies owned by Beyon Group, itself a portfolio company of the Bahraini sovereign wealth fund Mumtalakat — has announced it will acquire a controlling stake in Egypt-based tech provider Link Development for an undisclosed amount, Beyon Solutions said in a press release (pdf). The transaction “creates one of the largest hubs of digital transformation services in the region,” the company said.

Who’s selling? VC firm A15, a major shareholder in Link Development, will be making a full exit from the firm following the transaction.

What’s next? The agreement, which was signed on 14 May, is still subject to regulatory approval in Egypt and Saudi Arabia.

What they said: “Link Development and Beyon Solutions hold strategic partnerships with key vendors such as Microsoft, AWS, and Outsystems, and the synergy created through the acquisition will augment the scope of the Beyon Solutions portfolio and enable the seamless delivery of cutting-edge digital solutions to our growing regional customer base,” Beyon Solutions CEO Nicholas Toon said.

EMAAR MISR’S BUYING SPREE-

Emaar Misr has heard back from Albro, Skytower: The shareholders of Albro North Coast for Developments and Skytower for Real Estate Development have approved Emaar Misr’s non-binding preliminary offers to snag up stakes in each of the companies, Emaar said in an EGX disclosure (pdf).

The details: Emaar Misr submitted the two offers earlier this week after its board greenlit the move. Emaar Misr wants to acquire up to an additional 75% of Albro — which would give it full ownership of the company — from shareholders via a share swap. Emaar Misr is also looking to purchase a 25% stake in Skytower in an all-cash transaction and could potentially acquire the remaining 75% through a share swap.

What’s next: Emaar Misr’s board will meet to “examine the necessary legal procedures that should be undertaken to proceed with the acquisition.”

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