Thiqah Business Services Co.
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Thiqah Business Services Co. - overview
Established
2012
Location
Riyadh, -, Saudi Arabia
Primary Industry
IT Infrastructure
About
Based in Riyadh, Saudi Arabia, and founded in 2012, Thiqah operates as a provider of digital transformation solutions, including e-services, professional services, and data services to the government and the private sector. In January 2025, ELM Company agreed to acquire Thiqah Business Services Co. from the Public Investment Fund for USD 900 million. Thiqah offers an integrated suite of services focused on digital transformation solutions across sectors including government, health, and education.
Their core offerings consist of innovative cloud-based platforms that enhance operational efficiency and streamline client interactions, addressing challenges in data management, project monitoring, and customer relations for clients across the Middle East and North Africa region. Thiqah's revenue model is derived from a combination of subscription-based services and direct B2B transactions. The company generates income through tiered subscription plans for its digital platforms, enabling clients to access tailored functionalities.
Current Investors
Public Investment Fund
Primary Industry
IT Infrastructure
Sub Industries
Consulting Services, Offshore IT Services/IT Outsourcing, IT Infrastructure
Website
www.thiqah.sa
Verticals
Cloud Computing
Company Stage
Mature - Buyout
Total Amount Raised
Subscriber access only
Thiqah Business Services Co. - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Secondary Buyout | Completed | Thiqah Business Services Co. | - | ||||||||
| LP Direct | Completed | Thiqah Business Services Co. | - |
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