InvestCorp is studying the sale of the Saudi Northal IT business

Investcorp Holdings is studying alternative asset management to sell a business that is specialized in information technology in Saudi Arabia amid the growing appetite for investors for such assets in the kingdom, according to persons familiar with the matter. People, who asked not to reveal their identity due to the privacy of information, revealed that the company worked with HSBC Holdings at a possible sale of the Tour Net, adding that the bookings were going on, and no final decision had been made yet. Investorp and HSBC representatives refused to comment. “Nour Net” did not respond to the comments requests. Activity for transactions in Saudi Arabia The north, founded in 1998, is one of the largest wool -calculated services provider, cyber security, data centers and other information technology services in Saudi Arabia and serves over 1500 clients, according to the website. Investcorp, based in Bahrain, purchased the majority of the company in the company in 2022. Also read: The Saudi Stock Exchange. Laziness of trade sizes, despite the large part of the foreigners, is added to Nortint’s possible sales agreement to a growing range of transactions in Saudi Arabia, which are new investors who are private enterprises active in a high growth sector. Despite geopolitical tension in recent months, the company “Unifarama” for wholesale medicine and “Reda to Control Safety” was recently released for fire and safety equipment, according to “Bloomberg” previously reported. Foreign interest in the Saudi technology sector has become an increasing number of international private ownership companies in the Gulf region, and he is actively looking for possible transactions. Saudi Arabia stands out as a leading destination for acquisitions, as the Magnitt Data Company estimates that the kingdom captures about half of all transactions in the region. You may also be interested in: Saudi Arabia and the UAE are also the most beautiful for international bold capital investors in the region. Investors in the technological sector in the kingdom have expanded to public markets, as “Rasan for Information Technology” and “United International Holding” have exceeded the performance of the wider Saudi market since their first year over the past year. “Bloomberg” said that financial technology companies, such as “tabby”, which can now manage the purchase system and pay the purchase system, “prepare the possibility of financing” and “First Finance” for preliminary public proposals in the market.