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FINANCIAL NEWS
Bahrain’s Investcorp, Mumtalakat acquire US firm
31 Oct 2014
(MENAFN) Investcorp, the Bahrain-based alternative investment fund, announced acquiring United States-based software and services firm PRO Unlimited with the help of the sovereign fund Mumtalakat, Arabian Business reported.
PRO, which is a Florida-based workforce management solution provider, operates in 52 countries with the aim of helping companies with workers such as independent contractors, consultants and freelancers.
Investcorp did not reveal the deal value in its statement but said that this deal is one of three deals the company is hoping to complete, with the other two being in Europe and Turkey.
Investcorp’s partner in this deal is Mumtalakat, which is fully owned by the Bahraini state but run on a commercial basis and holds stakes in 38 commercial enterprises, with a portfolio value of approximately USD7.2 billion as of the end of 2013.
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