Jahez International Company for Information System Technology has fully acquired Marn Business Information Technology Company’s shares at a value of SAR 60 million.

Jahez concluded the transaction on 4 January 2023 after fulfilling all the required procedures and obtaining the regulatory approvals, according to a bourse disclosure.

The Tadawul-listed company pointed out the acquisition is self-funded, adding that the process will start reflecting on its income statements during the first half (H1) of 2023.

In 2022, Jahez inked a deal with Marn Business for the potential transaction, which aligned with the former’s objectives and expansion plans to foster its business base through acquisitions.

Last November, the listed firm owned food delivery platform The Chefz in exchange for SAR 650 million.