Gulf-based firm accepts takeover offer from Egypt’s Raya Contact Center

A Gulf-based firm operating in the business process outsourcing sector has accepted a binding takeover offer from Egypt’s Raya Contact Center.
Raya is seeking to acquire 100 percent of the issued capital of the company.
The transaction, which amounts to $14.2 million, is conditional on negotiations and executing all definitive agreements, Raya said in a bourse filling on Wednesday.
The potential deal will enable Raya to further expand its presence in the Gulf region and enter new markets such as Saudi Arabia.