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Saudi Arabia-based Tawaref, a tech investment community financing start-ups, has acquired Amaana.ai, an artificial intelligence solutions provider.
The acquisition of undisclosed value will boost the company’s capabilities in offering AI-driven solutions to start-ups and investors, a statement on Tuesday said.
Headquartered in Riyadh, Amaana helps enterprises, including multinational corporations and publicly traded entities, set up a business or expand into Saudi Arabia.
It specialises in automating essential processes in starting a business in Saudi Arabia like licensing and banking setup.
With the acquisition, Tawaref has now expanded its portfolio of services to include AI-driven business solutions, company formation, legal and accounting services and government registration through the Saudi Landing Program.
(Writing by Cleofe Maceda; editing by Seban Scaria)
