Riyadh - Sharikat Mubasher: Maarif Education, one of the largest education companies in Saudi Arabia, signed a definitive agreement to acquire a full stake in Ibn Khaldoun Education Company (IKEC).

The agreement was signed by Husam Zaman, Vice Chairman of the Board of Directors of Maarif Education, and Thunayyan Al Obaikan, CEO of IKEC, according to the company’s press release.

This acquisition, which marks one of the largest investments in the Saudi education sector, will increase Maarif’s size by almost 60% and raise the number of students enrolled in Maarif schools to over 36,000.

The deal came as part of Maarif’s plans to expand its footprint in Saudi Arabia, increasing access to the best quality education and learning experience for the Kingdom’s students.

It will also make Maarif the largest K12 education company in the country by revenue and geographic coverage.

Commenting on the deal, Zaman said: “This investment will significantly expand Maarif’s size and provide us with increased capacity, scale, and margin enhancements, further cementing Maarif's growing presence in the Kingdom. By aligning with Vision 2030’s objectives for the development of the education sector, we are committed to enhancing educational quality and accessibility.”

On his part, IKEC’s Al Obaikan commented: "This strategic acquisition by Maarif marks a pivotal moment for IKEC and we are proud to join its portfolio of renowned schools. Maarif’s proven excellence in delivering high-quality education and its ambitions to further expand its network open new horizons for our schools and students.”

IKEC operates four schools in Riyadh, which offer national and international curriculums and currently have around 13,000 students.