M&A advisory services in Saudi Arabia
Saudi Arabia's M&A market is expanding rapidly as Vision 2030 drives consolidation across food delivery, fintech, logistics and digital services - with PIF-affiliated acquirers, regional strategics and international buyers all active.
Landmark transactions including the HungerStation/Delivery Hero deal and the Jahez Tadawul listing have established exit precedents across both the venture-backed and founder-owned segments of the Saudi market.
Flow advises both bootstrapped and venture-backed Saudi founders on M&A exits, bringing a strong PE and strategic acquirer network, lean end-to-end process management and KPI-driven preparation that positions the business credibly for regional and international buyers from the first conversation.
UK
Ireland
France
Germany
Spain
Portugal
Italy
Netherlands
Belgium
Switzerland
Austria
Denmark
Sweden
Norway
Finland
Iceland
Poland
Czech Republic
Slovakia
Hungary
Romania
Greece
Croatia
Estonia
Latvia
Lithuania
Malta
US
Canada
Mexico
Brazil
Argentina
Chile
Colombia
Peru
Uruguay
Panama
Ecuador
Dominican Republic
Israel
UAESaudi Arabia
Qatar
Kuwait
Bahrain
South Africa
Nigeria
Kenya
Egypt
Morocco
Rwanda
India
Kazakhstan
Turkey
Australia
New Zealand11
Saudi Arabia tech M&A deals in the last 12 months
$46M
Saudi Arabia median tech M&A valuation
-
Saudi Arabia median tech M&A revenue multiple
$53M
Saudi Arabia biggest tech acquisition in the last 12 months
Selling your tech company in Saudi Arabia
Saudi M&A involves significant Ministry of Investment (MISA), CMA (for listed targets) and Ministry of Commerce overlays. Most material Saudi exits involve cross-border buyers or PIF-affiliated acquirers; structuring around the offshore holding choice is common.
International deal mechanics
Saudi private M&A typically uses international documentation when an offshore holding entity is the seller. Pure-Saudi-LLC deals follow Saudi commercial law with notarised closings. Both locked-box and completion accounts are used.
W&I insurance is emerging
Warranty & indemnity insurance is becoming more common in Saudi deals above roughly USD 30M, particularly given the cross-border nature of most transactions. Premiums (around 2-3% of cover) typically split between buyer and seller.
MISA and regulatory consents
Saudi Ministry of Investment (MISA) approval may be required for foreign acquirers depending on sector and entity type. CMA approval required for listed-target transactions and certain regulated activities. Adds notification time and conditions to scoped transactions.
Capital gains for founders
Saudi-resident individuals do not pay personal income tax or capital gains tax on share disposals. Saudi-owned corporate sellers may be subject to zakat on disposal gains; foreign-owned corporate sellers subject to 20% corporate income tax. One of the most founder-friendly exit tax regimes for Saudi nationals.
Sectoral foreign ownership
Specific sectors (financial services, telecoms, defence, certain media) have foreign ownership caps that materially shape buyer eligibility. Worth checking specific sector rules at the LOI stage.
Competition review (GAC)
General Authority for Competition (GAC) reviews transactions above relevant turnover and asset thresholds. Most pure-tech tuck-in deals don't trigger; large strategic deals routinely do.
Recently acquired tech companies in Saudi Arabia
Biggest M&A recently in Saudi Arabia was a $53M acquisition of kammelna by Impact46 in August 2025.
See all M&A deals in Saudi Arabia| Logo | HQ | Description | Buyer | ||||
|---|---|---|---|---|---|---|---|
Aug-25 | kammelna | | Kammelna is an online card game platform popular in the Kingdom of Saudi Arabia, featuring multiplayer gameplay and tournaments. The Riyadh-based service offers various card game modes with in-app purchases and leaderboards for competitive players across the region. | Impact46 | $53M | - | |
Jun-25 | Ejad Technology | | - | Etihad GO Telecom | $46M | - | |
Mar-26 | KAN MEDICAL | | Kan Medical Company is a Saudi Arabian manufacturer of medical aesthetics and medical devices. | Qomel | $800K | - | |
Apr-26 | Gulf NeoCare | | Gulf NeoCare supplies neonatal medical devices and pharmaceuticals, with services in audit, quality assessment, and education for neonatal care. | Frimex | - | - | |
Jan-26 | Flavours | | Flavours is a Saudi Arabia-based cloud point-of-sale system tailored for restaurants, cafes, and bakeries. | Qoyod | - | - | |
Dec-25 | DSShield | | DSShield offers physical security consulting and cybersecurity services. | Merak Capital | - | - | |
Dec-25 | Noon | | Noon is a digital ecosystem powering e-commerce in the Middle East. Dubai-headquartered and launched in 2017, it operates noon.com as the primary online shopping destination alongside noon Daily for groceries, noon Food delivery, NowNow one-hour service, SIVVI fashion, noon VIP membership, and payment gateways. Noon serves Saudi Arabia, UAE, and Egypt with localized logistics. The platform accelerates regional digital economy growth through talent empowerment and consumer-focused services. | Mohamed AlabbarSaudi Arabia's Public Investment Fund | - | - | |
Oct-25 | Sanad Cash | | Sanad Cash is a UAE-headquartered mobile app offering instant salary advances to employees between paychecks. The platform integrates with employer payroll systems for fee-free access up to 50% of earned wages. Sanad Cash serves blue-collar workers in the Gulf, partnering with construction and hospitality firms. | Qashio | - | - | |
Sep-25 | THEMAR | | THEMAR is a Saudi Arabia-based peer-to-peer financing platform compliant with Sharia principles. Launched in 2021, it connects microbusiness buyers with investors for purchase financing up to SAR 100,000. Operating in Riyadh, the platform has facilitated over 5,000 transactions, partnering with local retailers for electronics and appliances while ensuring transparent, asset-backed deals. | Beehive | - | - | |
Sep-25 | OXO E-Shops | | OXO E-Shops is a cloud-based point-of-sale platform tailored for retailers, integrating sales, inventory, accounting, and e-commerce functionalities. Compatible with electronic invoicing standards in Europe and the Middle East, OXO supports loyalty programs tracking 1 million+ points redemptions annually. Headquartered in Lebanon, the system processes omnichannel orders across physical stores and online shops, syncing stock levels in real-time to prevent overselling for 5,000+ users. | SILQFi | - | - | |
May-25 | UniKomm | | UniKomm delivers IT infrastructure management services for businesses. The company handles network operations, system maintenance, and technology support. | Plat4mation | - | - |
Who is buying tech companies in Saudi Arabia?
Saudi Arabia's Public Investment Fund, Edafa Venture Capital and Qashio are the most active acquirers in Saudi Arabia.
See all acquirers in Saudi Arabia| Logo | HQ | Description | Key acquisitions | ||
|---|---|---|---|---|---|
Saudi Arabia's Public Investment Fund | | Saudi Arabia's Public Investment Fund is a sovereign wealth fund of the Kingdom of Saudi Arabia, acting as the country’s principal investment arm and a key driver of economic transformation under Vision 2030. It manages a diversified global portfolio across multiple sectors and asset classes, with assets reported at roughly $925 billion–$1.15 trillion and a strategic target to grow to about $2 trillion by 2030. PIF invests domestically and internationally to generate sustainable long-term financial returns, stimulate private-sector growth, and reduce the Saudi economy’s historical dependence on oil revenues. Its activities include direct equity stakes, partnerships and funding for strategic sectors such as technology, infrastructure, transport, renewable energy and tourism, and it holds interests in numerous portfolio companies and major development projects both inside Saudi Arabia and abroad. | NoonMBC GroupElectronic Arts | 2 | |
Edafa Venture Capital | | Edafa Venture Capital is a Riyadh and Cairo-based investment firm funding startups in technology, education, and healthcare sectors across the Middle East, supporting Saudi Vision 2030 through equity investments and operational guidance. | GRSSwitchBonyan+2 | 2 | |
Qashio | | Qashio is a Dubai-based expense management platform for Middle Eastern businesses, issuing corporate cards integrated with AP automation. Companies gain real-time spend visibility, receipt matching, and budget controls through its dashboard. The service supports vendors in UAE and Saudi Arabia, facilitating reimbursements and compliance reporting for sales teams. | Sanad Cash | 1 | |
Qoyod | | Qoyod is a Riyadh-headquartered web-based accounting platform for Saudi SMEs. Compliant with ZATCA e-invoicing, it automates invoice generation, expense tracking, journal entries, and financial statements. Qoyod generates VAT reports and commercial ledgers, integrating with banks for payments and supporting multi-currency operations. | Flavours | 1 | |
Mohamed Alabbar | | Mohamed Alabbar is the founder and chairman of Emaar Properties, a Dubai-based real estate giant behind developments like Burj Khalifa and Dubai Mall, with expansions into Pakistan. | Noon | 1 | |
SILQFi | | SILQFi is a Dubai-headquartered financial services arm of the SILQ ecosystem providing trade finance, lending, and capital markets infrastructure. The platform supports B2B transactions for group companies like Sary in Saudi Arabia and ShopUp in Bangladesh through invoice discounting and supply chain financing. Launched in 2023, SILQFi facilitates cross-border payments in emerging markets across the Gulf and South Asia. | OXO E-Shops | 1 | |
Impact46 | | Impact46 is a Riyadh-headquartered asset management firm specializing in alternative investments for Sharia-compliant portfolios. It manages over $500 million in assets through private equity, real estate, and venture capital funds targeting Middle East and global opportunities. Established in 2018, Impact46 advises institutions, family offices, and high-net-worth individuals from GCC countries, with notable investments in fintech startups like Tamara and logistics firm Borrow A Boat. The firm operates from Saudi Arabia, UAE, and Bahrain, prioritizing ESG-aligned deals in technology and healthcare. | kammelna | 1 | |
Beehive | | Beehive is a Dubai-based peer-to-peer lending platform connecting Middle Eastern businesses with investors for short-term financing. Regulated by the UAE Central Bank, it facilitates loans from AED 50,000 to AED 3 million for SMEs in sectors like retail and construction. Beehive has funded over 200 companies since 2018, offering investors returns through diversified portfolios. | THEMAR | 1 | |
Frimex | | Frimex pursues transformative opportunities that benefit communities and the economy. | Gulf NeoCare | 1 | |
Plat4mation | | Plat4mation is a Utrecht-headquartered elite ServiceNow partner delivering implementation, customization, and managed services for the platform. The company develops apps on the ServiceNow Store for IT service management, customer service, and HR workflows. Plat4mation serves European enterprises with certified architects, holding Diamond-level partnership status. Its offerings include Now Platform migrations, integrations with SAP and Microsoft systems, and performance optimization consultancies. | UniKomm | 1 |
Public tech companies in Saudi Arabia
Elm is Saudi Arabia's largest publicly listed tech company, with a market cap of $14B.
See all public companies in Saudi Arabia| Logo | Description | Sectors | ||||||
|---|---|---|---|---|---|---|---|---|
Elm | ELM Co is engaged in providing ready-made and customized digital solutions in many areas. Its ready-made solutions serve a broad segment of customers, who can subscribe to different packages of their choosing to meet their needs and suffice business requirements. The services offered by the company include Consulting, Data Analysis and Technical solutions. The segments are Digital Business, Business Process Outsourcing and Professional Services, out of which the majority are from the Digital Business segment. | $184.14 | -32.6% | $14B | $14B | 5.2x | ||
solutions by stc | Arabian Internet and Communications Services Co is an information and communication company. The company's revenue mainly comprises of Core ICT Services, IT Managed and Operational Services, and Digital Services. It derives the majority of its revenue from Core ICT Services. | $57.34 | -18.3% | $6.8B | $6.2B | 1.8x | ||
Tadawul Group | Saudi Tadawul Group Holding Co provides trading, clearing, and settlement services in securities in the Kingdom of Saudi Arabia. It also provides services related to innovation in technology. The company's segment includes Capital Markets; Post Trade; Data and Technology Services and Corporate. It generates maximum revenue from the Post Trade segment. | $36.91 | -20.8% | $4.4B | $3.9B | 11x | ||
Rasan | Rasan Information Technology Co is engaged in online wholesale, electronic publishing, ready software publishing, systems analysis, design and customization of program software, software maintenance, web page design, setting up of web page hosting infrastructure, providing SMS design, and website design. Currently, it is engaged in providing insurance aggregator, online auto auction, and online leasing insurance services. The company's operating segments include Tameeni-Motors, Tameeni-Health, Leasing, Awal Mazad, and R Solutions. Maximum revenue is derived from the Tameeni Motors segment which offers a B2C digital platform providing vehicle owners access to motor insurers. | $40.53 | +84.0% | $3.1B | $2.9B | 14x | ||
MBC Group | MBC Group Co is a media company in the Middle East and North Africa, having principal activities consisting of information, communication, education, arts, entertainment, and recreation. Its operating segments include Broadcasting and other commercial activities, Shahid, and Media and Entertainment. The Group generates its revenue from: advertising revenue, predominantly from advertisers placing advertisements on its free-to-air TV channels, radio channels, and on the Group’s advertising-video-on-demand streaming platform (AVOD); revenue from subscriptions of the Group’s Shahid VIP subscription-video-ondemand (SVOD) service; and ancillary revenue from its other business operations. | $6.63 | -42.9% | $2.2B | $1.9B | - | ||
Al Moammar Information | Al Moammar Information Systems Co is an Information Technology(IT) company. It offers operating systems, system analysis, software designing and programming, software maintenance, web design, web hosting, data processing, and other related services. The company's segments include a Business Services Management unit, a Solutions unit, a Systems unit, an IT security unit, a Networking unit, an Operations and maintenance unit, and a Data center unit. | $50.60 | +40.8% | $1.5B | $1.8B | - | ||
Arabian Contracting Services | Arabian Contracting Services Co is an outdoor advertising solution provider, offering clients expertise across a multitude of platforms and disciplines. It is mainly engaged in establishing and operating outdoor advertising billboards, including roadside and indoor advertisements. The group's operating segments are Advertising and Others. The Advertising segment, which generates a majority of its revenue, is engaged in the provision of indoor and outdoor advertisements. The Others segment includes all types of printing work and retail sales by mail. Geographically, the group derives maximum revenue from its business in the Kingdom of Saudi Arabia, and also has a presence in the Arab Republic of Egypt and the United Arab Emirates. | $25.11 | -14.2% | $1.4B | $3.0B | 5.2x | ||
United International Holding | United International Holding Co and its subsidiaries are engaged in various types of consumer and product finance services, investing in stocks and other securities and providing loans, guarantees and financing to its affiliated companies. It operates in one geographical area i.e. Kingdom of Saudi Arabia, and caters to individual customers only (for Islamic financing contracts) and corporates (for payroll advances). The majority of revenue is generated from the Islamic financing contracts. | $10.71 | -75.8% | $803M | $764M | 4.1x | ||
Jahez | Jahez International Co for Information and Technology operates as an online food delivery platform, connecting users, merchants, and delivery partners across the Kingdom. It engages in providing wireless data services, systems analysis, designing and programming software and providing delivery services via e-platforms. Its operating segments are Delivery platform activity inside the Kingdom, Delivery platform activity outside the Kingdom, Logistics services activity, and Other activities. | $3.30 | -52.8% | $674M | $669M | 1.0x | ||
Edarat Group | Edarat Communication And Information Technology Co is engaged in the implementation of service contracts including provision of virtual network operator services, colocation services, system analysis, design and programming of software, providing management and monitoring of communications and information networks, establishing web hosting infrastructure and related services, data center services and related activities and subscriptions to provide cloud computing service. Its services include data center engineering, data center colocation, Edge AI, Edarat Marketplace, and cloud services. The company has two operating segments; Data Center Engineering Services and Cloud Service. It derives maximum revenue from Data Center Engineering Services segment. | $108.71 | +48.0% | $547M | $541M | - | ||
Perfect Presentation | Perfect Presentation for Commercial Services Co is a software development company that provides Custom Application Development (CAD), which develops websites, applications, and portals based on the client's preference. Its services include UI and UX design, robot technologies, VR and AR technologies, application development, artificial intelligence technologies, FinTech solutions, provision of management and control of communication and information networks, design and programming of custom software, systems analysis, provision of SMS services, provision of call center services; registration for cloud computing services, data technologies, data science and analysis, repair and maintenance of PCs and laptops, among others. | $1.72 | -45.2% | $515M | $695M | - | ||
Nice One | Nice One Beauty Digital Marketing Co operates as a online stores engaged in sale of beauty and personal care products. The company offers beauty and body care products, contact lenses, perfumes, skin and hair care products, as well as supplements. The Company's main activities are as Wholesale of textiles, clothing and footwear. Non-specialized wholesale trade. | $3.51 | -59.6% | $405M | $381M | - | ||
Saudi AZM | Saudi Azm for Communication and Information Technology Co aims at providing solutions to projects with qualitative impact in the fields of information technology and executive consulting. The company is principally engaged in the designing and programming special software, application development, providing management and control services of communication sale of wire and wireless equipment and devices, design User Experience and customer journey, repair and maintenance of personal and portable computers, providing senior management consulting services and information networks and research and development on technology. | $6.01 | -22.4% | $354M | $328M | - | ||
Purity Tech | Purity For Information Technology Co is engaged to improve infrastructure efficiency and availability. Its services are Digital Journey, Professional & Information Management Solutions, Software Development, Managed & Support, and Technologies. The group's technology includes On-Premises, Cloud, Data, and Development. | $6.36 | +14.1% | $95M | $96M | - | ||
Tihama Advertising | Tihama Advertising & Public Relations Co is engaged in advertising, public relations, marketing, media and telecommunications services, publishing, bookshops, and video business. The company's activity is based on road advertisements. The group operates in seven main sectors, which include Advertising, Production, Distribution, Bookstores and Retail, Parent Company and Investments. | $4.05 | -42.3% | $93M | $52M | - |
Why Flow Partners as your M&A advisor
Access to relevant buyers
We have extensive network and direct access to world's most prominent financial and strategic buyers, cultivated through years of successful M&A track record across bulge bracket investment banking.
No corporate red tape
We run lean deal processes, without BS, unnecessary time-wasting efforts and corporate inefficiencies. Our approach values candor, transparency and high-impact work to make sure great deals get done.
Thorough preparation
KPI-driven storytelling is more art than science. We have unmatched understanding of digital businesses and are experts in building sharp equity stories that present your business in a clear, concise manner.
Optimize value, not valuation
Valuation is only one side of the medal. We help creating attractive and efficient transaction structures that bridge incentive gaps between sellers, buyers and management teams.
We provide M&A advisory services across Saudi Arabia and beyond
Sector expertise
Explore our M&A advisory offering across a variety of tech sectors in Saudi Arabia.
Software
Vertical and horizontal SaaS, AI-native software products, infrastructure SaaS, cybersecurity
AI & ML
Foundation models, AI applications, AI infrastructure, semiconductors, AI consulting
Fintech
Neobanking, online payments, fintech infrastructure, lending platforms, wealth tech, online brokerage, vertical FS software
Consumer internet
Consumer software subscription platforms, edutech, online content, social networks, online dating
Digital media
Streaming platforms, mobile and console gaming, content distribution, digital publishing, VR & AR
E-commerce & marketplaces
Consumer and B2B marketplaces, inventory-based e-commerce, classifieds, lead generation platforms
Consumer products
Direct-to-consumer (D2C) brands, consumer electronics, smart home devices, lifestyle products
Mobility
Ridesharing, micromobility, food delivery, logistics tech, autonomous tech, EV charging infrastructure
Digital health
Digital therapeutics, telemedicine, mental health solutions, EHR and practice management, vertical healthcare SaaS
Industrial technology
Industry 4.0 solutions, 3D printing, climate tech, industrial IoT, robotics, smart manufacturing
Digital infrastructure
Data centers, cloud infrastructure, edge computing, network security, vertical infrastructure SaaS
IT services
Software development and testing, digital transformation, cloud services, advertising agencies, IT support services
Selected case studies
We've closed sell-side and buy-side transactions across European, US and emerging-market tech.
Our M&A track record spans strategic exits to corporate acquirers, PE buyouts, and cross-border deals where regulatory and structuring complexity actually matters.
We acted as exclusive sell-side advisor to MAILINGWORK, a Chemnitz-based email marketing software platform, on its sale to French digital marketing leader Positive Group.
Recently completed M&A advisory projects
Selected M&A transactions and prior deal experience.
Got questions?
Schedule a call ordrop us an email to learn more about our CFO-as-a-service, capital raising and M&A advisory offering.
More services
M&A is the ultimate goal, but we play a long game. We're your fractional CFO to help you build financial discipline, and advise you on raising growth capital.
Fractional CFO in Saudi Arabia
We integrate into your workflows to help with financial modelling, build out FP&A tech stack, and ultimately provide guidance towards an M&A or raising venture capital.
Learn moreVC fundraising in Saudi Arabia
We help you prepare materials, reach out to investors in our extensive network, negotiate fair term sheets and structure the VC round.
Learn moreTalk to us
Schedule a call to get a health check on your business and see how we could help.
Fractional CFO
- Fractional CFO for Software
- Fractional CFO for AI & ML
- Fractional CFO for Fintech
- Fractional CFO for Consumer internet
- Fractional CFO for Digital media
- Fractional CFO for E-commerce & marketplaces
- Fractional CFO for Consumer products
- Fractional CFO for Mobility
- Fractional CFO for Digital health
- Fractional CFO for Industrial technology
- Fractional CFO for Digital infrastructure
- Fractional CFO for IT services
Stages
Countries
- UK Fractional CFO
- Ireland Fractional CFO
- France Fractional CFO
- Germany Fractional CFO
- Spain Fractional CFO
- Portugal Fractional CFO
- Italy Fractional CFO
- Netherlands Fractional CFO
- Belgium Fractional CFO
- Switzerland Fractional CFO
- Austria Fractional CFO
- Denmark Fractional CFO
- Sweden Fractional CFO
- Norway Fractional CFO
- Finland Fractional CFO
- Poland Fractional CFO
- Estonia Fractional CFO
- US Fractional CFO
- Canada Fractional CFO
- Mexico Fractional CFO
- Brazil Fractional CFO
- UAE Fractional CFO
- Australia Fractional CFO
Cities
- London Fractional CFO
- Dublin Fractional CFO
- Paris Fractional CFO
- Berlin Fractional CFO
- Madrid Fractional CFO
- Lisbon Fractional CFO
- Milan Fractional CFO
- Amsterdam Fractional CFO
- Brussels Fractional CFO
- Zurich Fractional CFO
- Vienna Fractional CFO
- Copenhagen Fractional CFO
- Stockholm Fractional CFO
- Oslo Fractional CFO
- Helsinki Fractional CFO
- Warsaw Fractional CFO
- Tallinn Fractional CFO
- New York Fractional CFO
- Toronto Fractional CFO
- Mexico City Fractional CFO
- São Paulo Fractional CFO
- Dubai Fractional CFO
- Sydney Fractional CFO