Edarat acquires 40% stake in MIS subsidiary

Edarat logo pictured, as it will own 40% of the National Excellence Co. and MIS will retain a 60% stake

Edarat Communication and Information Technology Co.’s board of directors approved the acquisition of a 40% stake in National Excellence Co. for Data Centers by subscribing to a capital increase of SAR 400,000, the company said in a statement to Tadawul.

Al Moammar Information Systems Co. (MIS) was the sole owner of National Excellence Co. Following the transaction, MIS will retain a 60% stake in the company, while Edarat will own the remaining 40%.

The deal will be financed through internal resources, Edarat said, adding that the investment represents a promising opportunity to enter the data center management and operations sector, strengthening its market position and supporting future business growth.

MIS announced on Oct. 7 that its board approved Edarat joining as a partner in its subsidiary. MIS owns 1.51 million shares in Edarat, representing 30% of its share capital, according to data available on Argaam.