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DPS to explore acquiring Cloding
Daard Al-Balad Business Solutions Company has announced the signing of a non-binding Memorandum of Understanding with the owners of Clouding Computer Systems and Clouding Intelligence Computer companies to explore the possibility of acquiring up to 100% of their shares. The memorandum aims to establish a framework for preliminary assessment of the potential deal, which includes financial, legal, operational, and technical due diligence of both companies, subject to obtaining the necessary approvals and completing evaluations. The transaction focuses on enhancing the company's presence and expanding its activities in artificial intelligence solutions, as both companies have expertise in providing AI solutions and digital transformation services, including AI applications, distinction certifications, and partnerships with firms like Salesforce. The memorandum does not entail any financial commitments if the deal is not finalized and is subject to final approval after the completion of the due diligence process.
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