Bahrain-based alternative investment firm Arcapita has acquired credential verification vendor DataFlow Group.
It is yet another acquisition for Arcapita, which has now made five direct investments and eight add-on acquisitions in the business service sector over the last five years.
The business was acquired from Sweden-based EQT Private Equity.
DataFlow Group currently has more than 850 employees across nine countries, including UAE and Saudi Arabia.
According to Arcapita deputy CEO Hisham Al Raee, the acquisition fits with the firm’s private equity strategy of targeting companies that are “asset-light, technology-enabled, and have strong management teams”.
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