Maharah acquires strategic stake in BLOOVO
Maharah and BLOOVO officials during the signing of the agreement.
DUBAI, Dec 9: BLOOVO, a regional fast-growing online recruitment platform that uses intelligent algorithms, announced on Sunday the entry of the Saudi-based Maharah Human Resources Company as a strategic shareholder to help in regional and international expansion as well as technology development. The blockbuster acquisition creates a regional HR giant that challenges international HR players operating in the MENA region and paves the way for international expansion for the two players.
Yousef Alghafari, Maharah’s Chief Executive Officer commented on this acquisition saying: “being one the largest human resources companies in the entire MENA region, this acquisition marks the beginning of a new era for Maharah in terms of penetrating the fast-paced HR Tech industry, and online recruitment constitutes a natural extension to Maharah’s offering and strategic direction, which supports achieving different future initiatives that Maharah is pursuing such as nationalization programs; and BLOOVO with its innovative online offerings fits very well our overall strategy”.
Alghafari also added that this acquisition came to support achieving Maharah’s strategic objectives as Maharah has been actively looking for business opportunities that serve its strategy. Both companies have great plans and business aspirations in order to enhance BLOOVO’s online platform in the Gulf region and implement some initiatives that are aligned with Maharah’s strategy such as developing a strong database of professionals and supporting Maharah’s recruitment process.
Ahmad Khamis, the Co-founder and CEO of BLOOVO commented on this partnership by saying: “we are pleased to have Maharah as a strategic and value-adding partner in BLOOVO, and we are confident that Maharah will contribute significantly to BLOOVO’s development and will help accelerate its growth across the GCC region over the next two years with a focus on Saudi Arabia, after which international expansion becomes the objective”.