Educhain acquires India-born schools management platform Rarome

M&A-

Blockchain-backed digital credentialing provider for schools Educhain has fully acquired India-born K-12 schools management platform Rarome for an undisclosed sum, according to a press release (pdf). Educhain has offices in Dubai, Riyadh, Vancouver, and Toronto.

The pitch: “We will create a robust platform that integrates school management with secure digital credentialing, ensuring academic institutions have the tools they need to succeed in the digital age," Virendra Maloo, CEO of Rarome, said.

Rarome’s offerings: Rarome provides an extensive array of solutions, such as RFID attendance systems with SMS alerts, multi-school management, tailored ERP systems, multilingual support, and mobile applications for both parents and schools. Rarome also offers franchise licenses.

REAL ESTATE-

Sumou Real Estate to build Riyadh and Dammam projects: Sumou Real Estate Company signed two contracts with the Saudi Railway Company totalling SAR 64.4 mn to develop projects in Riyadh and Dammam, according to two disclosures to Tadawul (here and here).

The details: The Al Malaz project in Riyadh will cost SAR 34.87 mn and take 26 months to complete, while the second contract is valued at SAR 29.57 mn, and will see Somou develop the Arina project in Dammam in the span of 33 months.

HEALTHCARE-

Saudi is getting a new oncology center: Johns Hopkins Aramco Healthcare (JHAH) will launch an Oncology Center of Excellence, integrating AI and precision medicine to enhance cancer care, Al Arabiya reported, citing announcements on the sidelines of Arab Health 2024 in Dubai.

… and a major pharmacy chain: Aster Pharmacy also plans to spend USD 250 mn to expand its footprint in the Kingdom to 200 stores through a joint venture with Al Hokair Holding Group. The company also aims to introduce digital services via its myAster app.

AVIATION-

Flyadeal was accepted into the International Air Transport Association (IATA), after completing the association’s operational safety audit, according to a post on LinkedIn. The membership allows Flyadeal to participate in industry committees that focus on safety, operations, and digital innovation. Customers also benefit from faster payment processing through IATA’s Billing Settlement Plan (BSP). The airline will officially join the association in June.

ALSO- Flyadeal has launched its operations in Pakistan with twice-weekly flights from Riyadh and Jeddah to both Karachi and Lahore using Airbus A320 aircraft, according to Pakistan state news agency APP. The inaugural flight took off yesterday from Riyadh to Karachi’s Jinnah International Airport.

INFRASTRUCTURE-

Saudi Authority for Industrial Cities and Technology Zones (Modon) and PIF-owned Saudi Investment Recycling Company signed an MoU to develop waste management, treatment, and recycling facilities in industrial cities, aiming to advance circular economy initiatives in the Kingdom, according to a post on X.