Elm signs share purchase deal to acquire Tabadul’s entire stake from PIF

Al Elm Information Security Company (Elm) signed a share purchase agreement to acquire the entire shares (100%) of Saudi Company for Exchanging Digital Information (Tabadul) from the Public Investment Fund (PIF).

The company said in a statement that the closing of transaction is subject to securing required regulatory approvals.

Upon completion of the transaction, Tabadul will become a wholly owned subsidiary of Elm, preserving its brand and identity.

In addition, Tabadul’s current executive management will continue to lead its operations, and will report to its existing board of directors, with representation from Elm.

“The acquisition will contribute to the realization of Vision 2030 by creating a logistics national champion and benefit the Saudi economy through integrating the logistics value chain. It is also in line with PIF’s mandate of supporting digital transformation in key sectors in accordance with PIF’s program in this regard,” a spokesperson from PIF commented on the transaction.

The combination of Elm and Tabadul will create a one-stop-shop that will cater to the entire logistics value chain, thus accelerating its targeted sector expansion strategy and offering significant value to its partners and the market alike, Abdulrahman Aljadhai, CEO of Elm, added.

He further stated that it is an opportunity to develop national logistics services that meet the current market requirements and the need of the beneficiaries.

Elm provides various technical solutions, e-products, consulting services, digital outsourcing, and training solutions to government and private businesses.

Tabadul provides digital integration solutions to the logistics sector, enabling the exchange of information, goods and services across government and private businesses in Saudi Arabia.