RIYADH: Growth Avenue Investment Co., a unit of Maharah Human Resources Co., has finalized a deal to acquire 40 percent of the shares in Salis for Trading & Marketing.
Riyadh-based digital marketing firm Salis owns Soror application, which is an on-demand home services application.
The two parties completed the due diligence process and signed a sales and purchase agreement, Maharah said in a bourse filing without disclosing the value of the transaction.
Subject to approval by Saudi Arabia’s General Authority for Competition, the deal comes as GAC is expanding its reach through a number of acquisitions.
Most recently, it signed an agreement to buy a 40 percent stake in Saudi Medical Systems Co., after taking a majority stake of 85 percent in Alshifa Al Arabia Medical Co. last year.
