Maharah says OHR completes full acquisition of Bloovo in share-swap deal

Logo of Maharah Human Resources Co.

Maharah Human Resources Co. said that OHR Co. completed the acquisition of 100% of Bloovo Co. Ltd, which is 40% owned by Maharah, in a share swap transaction.

In a bourse statement, the company added that the Ministry of Commerce issued, on June 14, its resolution to convert OHR to a closed joint stock company under the name of KABI Technologies Co. for IT with a SAR 200 million capital.

Upon completing the deal, Maharah owns 3.96 million shares (nominal value of SAR 10) of KABI, representing 19.78% of its total equity.

The acquisition aims to achieve synergies between KABI and Bloovo to increase the use of HR technologies to support clients in building and managing talent acquisition solutions and use of data analytics and AI to enhance applicant experience and recruitment results.

KABI is a specialized firm in human resources and nationalization services and solutions in Kingdom. On the other hand, Bloovo specializes in recruitment solutions empowered by artificial intelligence.

Any updates on the transaction will be announced in due course.

For More Mergers and Acquisitions