Gate Capital News Letter | Issue 759

Electronic Arts (EA) completed its acquisition by an investor consortium led by Saudi Arabia’s Public Investment Fund (PIF), alongside Silver Lake and Affinity Partners.

Following the completion of the deal, trading in the company’s shares has been suspended, its Nasdaq listing has been terminated, and Electronic Arts has become a privately held company owned by the consortium.

Dubai-based global mobility company Moove reached a $2.1 billion valuation after raising $250 million in a Series C funding round led by Abu Dhabi sovereign investor Mubadala Investment Company. The funding will support the expansion of Moove’s autonomous vehicle business, including autonomous fleet ownership and its robotics-first depot infrastructure, known as “Nests”.

Emirates NBD Egypt, a 100% owned subsidiary of Emirates NBD Bank, has entered into definitive agreements to acquire the retail banking business of HSBC Bank Egypt, an indirect subsidiary of HSBC Holdings.

The transaction remains subject to regulatory approvals and closing conditions, said a statement.

As part of the transaction, Emirates NBD Egypt will acquire HSBC Egypt’s retail banking portfolio along with the associated branch and ATM network, customer base and relevant employee base.

Solid market fundamentals and healthy occupier demand are strengthening the long-term prospects of the UAE’s industrial sector. In addition, strategic government initiatives focused on supply chain resilience and domestic manufacturing are enhancing the UAE’s competitive positioning and boosting investor confidence in the sector.

Saudi Arabia’s SAL Logistics Services has completed the acquisition of Belgium-based Aviapartner Liege for approximately SR120 million ($32 million), marking its first operational expansion outside the Kingdom.

Spinneys will increase its shareholding in its Saudi Arabian subsidiary, Spinneys KSA, to 70% through the acquisition of an additional 20% stake from Al Hokair for SAR18 million ($4.8 million). The transaction is pending regulatory approval in Saudi Arabia.

CineNow Limited, a film-tech investment vehicle, has secured majority backing, over 60% for its $150 million fund from a mix of family offices and ultra-high-net-worth individuals reflecting early institutional confidence in a category historically financed through fragmented, relationship-driven capital rather than structured investments. The model is designed to transform Indian cinema intellectual property into a formally investable, rights-backed and tokenisation-ready alternative asset for global capital.

Building on this momentum, the vehicle is targeting up to $720 million in slate monetisation and more than $1 billion in long-term film-IP value, structured through its $150 million fund with built-in capital recycling and cost efficiencies.

Saudi startup RIME, which develops AI solutions for operational environments, has raised more than $2 million in a Seed funding round led by SEEDRA Ventures, with participation from Athla Investment, Unity Invest Partners, and a group of angel investors. The funding will support the company’s expansion plans and accelerate the development of its AI platform.

Egypt’s Beltone Venture Capital (BVC) has divested a portion of its shareholding in BirdNest to cash in on financial returns while retaining a strategic stake to participate in the proptech startup’s future growth.

Saudi Arabia-based enterprise AI startup MOZN has secured a strategic investment from HUMAIN, along with a partnership to develop sovereign AI solutions for financial institutions and public sector organisations in Saudi Arabia and global markets.

Epic Markets, a Dubai, United Arab Emirates-based developer of multi-asset brokerage platforms and institutional-grade retail trading software, raised $10m in pre-seed funding.

Malayan Banking (Maybank) said on Monday it would buy the remaining 30.95% stake in Maybank Ageas Holdings from Belgian insurer Ageas for 4.8 billion ringgit ($1.18 billion), snaring full ownership of its Etiqa insurance business.

The deal will give Malaysia’s biggest lender full control of a business that it said has outgrown the insurance market in Malaysia and Singapore, and help it sell more insurance and Islamic insurance products through its banking network across its Southeast Asian markets.

Global chemical leader Saudi Basic Industries Corporation (Sabic) has announced that it has completed the sale of its engineering thermoplastics (ETP) business in the Americas and Europe to Mutares SE & Co, thus marking a key step in its portfolio optimisation strategy.

Shaffra, the GCC-born AI Workforce Platform building Autonomous AI Teams for enterprises and governments, has expanded beyond the GCC for the first time, bringing its AI workforce expertise to the Caspian region. The company has opened a regional headquarters in Azerbaijan, introducing three enterprise AI workforce solutions: the AI Call Center, AI Sales Center, and AI Project Manager solutions.

The European Chamber of Commerce in Saudi Arabia said economic relations between the EU and Saudi Arabia are entering a new phase of expansion, driven by new partnerships, more European companies entering the Kingdom’s market, and deeper investment commitments, as the chamber seeks to broaden the base of European companies operating in Saudi Arabia and increase bilateral trade and investment.

The Emirati healthcare company Longevium is preparing to launch a new laboratory in “Dubai Science Park” after raising $7 million in its first funding round. The laboratory, which is expected to open in the last quarter of 2026, represents a turning point for the region’s health and longevity sector.

Bundle, a UAE-based startup developing a blockchain-powered rewards platform, has raised $5.5 million in a pre-seed funding round to expand its international network and accelerate product development.

Saudi Azm for Communication and Information Technology Co. signed, on Aug. 2, a non-binding memorandum of understanding (MoU) with AZM FinTech, a closed joint-stock company, to explore a potential transaction involving the acquisition of 100% of the latter’s shares.