Saudi-based Master Works has entered into an investment deal valued at $40 million (SAR 150 million). The transaction was carried out by Merak Capital, an investment company focused on technology companies and licensed by the Capital Market Authority of Saudi Arabia.

Founded in 2010 by Hani Al-Lehaibi and Bandar Al-Amri, Master Works offers products and services in multiple technological fields such as data management, artificial intelligence, data strategy, API management, development software and robotic process automation (RPA). The company is headquartered in Riyadh, with offices in Egypt, United Arab Emirates, Jordan and India.

Recently, the company has launched many in-house developed software such as Digital PMO (P+), Digital SMO (S+), Baseer and Diwan. The company has served more than 140 clients in the kingdom’s public and private sectors, with support from more than 20 global technology providers.

Hani Al-Lehaibi, Founder of Master Works, said: “This agreement reflects our company’s exceptional journey over the past few years, where we have been able to develop our four product lines and services, as well as expand our customer base, while by fostering our relationships with key players in the information technology sector, locally and globally.

He added: “We aim to continue to develop innovative local products by drawing on the experience of our qualified team to achieve our future ambitions and to be a unique model for technological investments in the Kingdom. Having Merak Capital as a partner reflects our absolute intention to meet the aspirations of investors, and it will play a key role in helping us achieve the growth path we want as we help more clients, and the Kingdom, to accelerate this transformation. digital.

Merak Capital intends to support Master Works’ growth plans and pave the way for its IPO in Saudi Arabia. Othman Alhokail, Partner at Merak Capital, said: “It was great to witness the incredible development that Master Works has achieved over the past decade and how it has managed to become one of the leading Saudi technology companies in data and digital transformation.

“Thanks to the vision of the management team, we are confident that the company will achieve more achievements in the years to come.”