Saudi Arabia’s Elm agrees deal to buy Tabadul from PIF

Saudi Arabia’s Elm agrees deal to buy Tabadul from PIF

Tabadul to become wholly-owned subsidiary of information security company

Saudi information security company Elm has purchased the Saudi Company for Exchange Digital Information (Tabadul) from the Public Investment Fund (PIF) for an undisclosed amount.

The deal, which is subject to regulatory approvals, will see Tabadul, which provides digital solutions to the logistics sector, become a wholly-owned subsidiary of Elm, although it will retain its brand and identity and will continue to be led by its current executive management.

A statement from the PIF, said: “This acquisition will contribute to the realisation of Vision 2030 by creating a logistics national champion and benefit the KSA 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 programme in this