Thomson Reuters buys business intelligence platform Zawya

DUBAI: Financial services and investment group Saffar today said it has sold local provider of online business intelligence platform Zawya Ltd to Thomson Reuters.

With this sale, Saffar's investment in Zawya becomes one of the most successful internet and media investments in the MENA region.

It did not provide deal size or other details. Saffar Chairman Al-Quraishi said, "The scope of this sale and the quality of the parties involved underscores the value that can be created when institutional support, founding vision and strong management come together. The sale of Zawya to Thomson Reuters is a testament to the fact that Zawya has become an unsurpassed regional platform."

Zawya boasts of enabling over 750,000 unique visitors per month to find and connect with best business and investment opportunities in the Middle East and North Africa (MENA) region.

Yousef Ihsan Jawad, Vice Chairman of Zawya, said, "As entrepreneurs, we are proud to have founded and built one of the leading internet companies in the Middle East."

Arma Partners acted as exclusive financial adviser to Saffar, and SNR Denton and Maples & Calder acted as legal advisers to Saffar on the sale of Zawya.

Founded in 2001, Saffar encompasses investments in financial services and telecom across the MENA region.