Riyadh - Sharikat Mubasher: Elm Company, a leading provider of innovative secure services and solutions owned by the Public Investment Fund (PIF), successfully completed the acquisition of PIF’s entire shares in Thiqah Business Services Company (Thiqah).

In a bourse statement, Elm announced the completion of the regulatory process related to the acquisition and the completion of the sale and purchase of the shares, following the satisfaction of the conditions stipulated in the share purchase agreement (SPA).

Elm further revealed that it paid the acquisition purchase price to the PIF as agreed on the SPA through its own resources and facilities.

In January, the PIF and Elm signed the SAR 3.4 million acquisition deal to bolster the local information and communication technologies (ICT) ecosystem.