FTI advises e&’s acquisition of UAE online marketplace ServiceMarket
- Date: 01-Mar-2023
- Source: Consultancy ME
- Sector:Technology
- Country:UAE
FTI advises e&’s acquisition of UAE online marketplace ServiceMarket
Emirati-based multinational telecommunications company etisalat by e& (e&) has acquired ServiceMarket, an online marketplace for all kinds of home and household services. FTI Consulting provided buy-side deal advisory to the transaction.
Founded in 2013 by two former McKinsey & Company consultants, Bana Shomali and Wim Torfs, ServiceMarket initially opened for business as MoveSouq, focused on providing moving services for relocating Dubai residents. But as the platform expanded into all kinds of other services, from cleaning and gardening to maids, MoveSouq rebranded as ServiceMarket.
Having bagged several funding rounds to drive its growth over the past decade, today ServiceMarket offers more than 40 services and claims to be the UAE’s market leader in the online household and home improvement segments.
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