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INVESTMENT WATCH-
Diriyah + Sotheby’s to promote Saudi real estate: Diriyah Company partnered with Sotheby’s International Realty to launch the Diriyah House Experience Center in London, the company said on LinkedIn. The center will showcase its flagship development in Riyadh, in a bid to attract international investors.
The details: The Diriyah House Experience Center will open to the public next month at One Hyde Park, with Sotheby’s International Realty managing the space and supporting marketing efforts, Aleqtisadiah reports.
INVESTMENT WATCH–
IT solutions provider Al Moammar Information Systems (MIS) sold 100% of its stake in San Francisco-based AI startup Anthropic for USD 9.3 mn, gaining some USD 4.3 mn from its investment, it said in a disclosure to Tadawul on Tuesday.
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REMEMBER- In January 2024, MIS acquired an undisclosed stake in Anthropic through a USD 5 mn equity investment, as part of MIS’ SAR 40 mn investment portfolio for capitalizing on growth windows in global AI companies.
M&A WATCH-
#1- K-12 AI and coding education platform iSchool snapped up Saudi-Egyptian Algoriza’s EdTech arm Seeds, it said in a statement on Tuesday. The value of the transaction was not disclosed.
REMEMBER- In late 2023, iSchool announced its plans to expand across the GCC — namely in Saudi Arabia, the UAE, Oman, Qatar, Kuwait, and Bahrain — with sub-Saharan Africa in the cards for 2025.
#2- Local family-owned conglomerate Al Sulaiman Group acquired Taajeer Finance Company, according to a statement. No details were disclosed about the investment ticket.
About Taajeer Finance: Founded in 1997 as an independent auto finance company and a former Taajer Holding Group subsidiary, it transitioned into a comprehensive financial solutions provider.
FOOD-
Baan Holding Group signed a SAR 436 mn, six-year contract to provide catering, food, and nutrition services to workers residing at Neom’s Modern Village Complex, it said in a disclosure to Tadawul. Services are expected to launch in 2Q 2025.
FINANCIAL SERVICES-
Madfu secures BNPL license: Riyadh-based fintech Madfu obtained a license from the Saudi Central Bank to offer deferred payment services (known as buy-now-pay-later or BNPL), state news agency SPA reports. The new operator raises the total number of licensed BNPL finance companies operating in the Kingdom to 67.
