Paris, France – February 12, 2024: Amethis, through its fund Amethis MENA Fund II, has completed its fifth transaction, acquiring a minority stake in BBI.
Founded in 2009, BBI is one of MENA’s leading data management consultancy firms, helping clients across the region organize, analyze, and leverage their data to make informed and data-driven decisions.
With a 15-year track record, BBI emerged as a leader in its field, offering cutting-edge technology and operating across multiple sectors within MENA’s largest markets including Egypt, KSA, and the UAE.
Amethis’ investment in BBI will support the company in expanding its geographic and industry coverage and augmenting its service offering.
Shaping the Future of Data and AI in the MENA Region
Hany Madkour, BBI’s Founder & CEO, stated: “We would like to thank Amethis for trusting BBI’s vision, ambition, and plans to become the most innovative regional company providing end-to-end data and AI solutions.
This investment by Amethis marks an important milestone in our journey towards revolutionizing how data and AI drive decision-making in businesses across the region. We are not just developing technology; we are shaping the future of how businesses understand and utilize data across our end markets.”
Forging a Path of Innovation and Collaboration
Hafdi Salah, BBI’s Co-founder & Managing Partner, commented: “I would like to thank the Amethis team for their trust in BBI. We believe this partnership will help us enhance our solutions offering, expand our market reach, and fortify our position as a leader in the data management industry.
To drive innovation and deliver excellence, our immediate plans include expanding our team with world-class data science and AI talents and deepening our collaboration with industry partners.
Together, we will redefine the landscape of enterprise data management, offering solutions that are not only technologically advanced but also tailored to meet the evolving needs of our clients.”
Recognizing a Landmark Transaction in MENA’s IT Sector
Sherif Ahmed, CEO of Tanami Financial Advisory, a leading Cairo-based investment banking firm, considered this transaction to be one of the most important in the IT sector in the MENA region.
He added “There are several promising investment opportunities in the IT sector. Regional companies have a competitive advantage with the presence of highly talented and qualified human resources capable of delivering world-class services.”
Investing in MENA’s Data Management Leader
Toufic Khoueiry, Partner at Amethis, stated: “BBI is MENA’s leading data management consultancy firm, differentiated through its strong partnerships, wide service offering, and deep sectoral expertise put to test across the region’s largest markets.
By investing in BBI, we are backing a regional specialist run by high-quality entrepreneurs operating in a sector that is poised for continued growth.”
Arc Capital and Maatouk Bassiouny & Hennawy advised Amethis, while Tanami Financial Advisory and Dawoud & Dawoud advised BBI’s shareholders.