Logo ofDar Albalad for Business Solutions Co. (DBS)
Dar Albalad for Business Solutions Co. (DBS) signed a non-binding memorandum of understanding (MoU) with Clouding Computer Systems DWC-LLC and Clouding Intelligence Computer Systems LLC to explore the potential acquisition of up to 100% of the ownership interests in both companies. 
According to a statement to Tadawul, the MoU forms part of DBS’ strategy to expand into AI solutions.
The MoU is valid for six months from the signing date and may only be renewed through a written addendum between the parties.
No financial advisor has been appointed at this stage. The company will appoint specialized advisors to conduct due diligence and announce any material developments related to the definitive acquisition agreement in due course.
The MoU aims to establish a framework for the parties’ initial mutual rights and obligations to assess the potential transaction and initiate the due diligence process. It includes customary provisions governing confidentiality, exclusivity and restrictions on certain material activities. The potential transaction remains subject to the parties reaching a definitive binding agreement setting out the terms and conditions of the deal.
The potential transaction is also subject to obtaining internal and regulatory approvals from the relevant authorities.
DBS said the target company is one of the leading AI companies in the Middle East and has participated in some of the region’s largest digital transformation programs in partnership with Tier-1 institutions.
The target company has established a specialized practice focused on enterprise agentic AI and field deployment engineering, becoming the first company in the region to be named Salesforce’s Agentforce Partner of the Year for the Middle East. It also developed and launched Empathy Studio, an innovative agentic AI product.
The MoU is non-binding and does not impose any financial obligations on DBS if the acquisition is not completed or is abandoned for any reason.
DBS will announce any material developments related to the potential transaction in accordance with the applicable laws and regulations.
Logo ofDar Albalad for Business Solutions Co. (DBS)
Dar Albalad for Business Solutions Co. (DBS) signed a non-binding memorandum of understanding (MoU) with Clouding Computer Systems DWC-LLC and Clouding Intelligence Computer Systems LLC to explore the potential acquisition of up to 100% of the ownership interests in both companies.
According to a statement to Tadawul, the MoU forms part of DBS’ strategy to expand into AI solutions.
The MoU is valid for six months from the signing date and may only be renewed through a written addendum between the parties.
No financial advisor has been appointed at this stage. The company will appoint specialized advisors to conduct due diligence and announce any material developments related to the definitive acquisition agreement in due course.
The MoU aims to establish a framework for the parties’ initial mutual rights and obligations to assess the potential transaction and initiate the due diligence process. It includes customary provisions governing confidentiality, exclusivity and restrictions on certain material activities. The potential transaction remains subject to the parties reaching a definitive binding agreement setting out the terms and conditions of the deal.
The potential transaction is also subject to obtaining internal and regulatory approvals from the relevant authorities.
DBS said the target company is one of the leading AI companies in the Middle East and has participated in some of the region’s largest digital transformation programs in partnership with Tier-1 institutions.
The target company has established a specialized practice focused on enterprise agentic AI and field deployment engineering, becoming the first company in the region to be named Salesforce’s Agentforce Partner of the Year for the Middle East. It also developed and launched Empathy Studio, an innovative agentic AI product.
The MoU is non-binding and does not impose any financial obligations on DBS if the acquisition is not completed or is abandoned for any reason.
DBS will announce any material developments related to the potential transaction in accordance with the applicable laws and regulations.
