Paris, France – January 29, 2024:
Amethis, through its fund Amethis MENA Fund II, has completed its fifth transaction, acquiring a minority stake in BBI.
Founded in 2009, BBI is MENA’s leading data management consultancy firm, helping clients across the region organize, analyze, and leverage their data to make informed and data-driven decisions. With a 15-year track record, BBI emerged as a leader in its field, offering cutting-edge technology and operating across multiple sectors within MENA’s largest markets including Egypt, KSA, and the UAE among others. Amethis’ investment in BBI will support the company in expanding its geographic and industry coverage, and in augmenting its service offering.
Hany Madkour, BBI’s Founder & CEO, stated:
“We would like to thank Amethis for trusting BBI’s vision, ambition, and plans to become the most innovative regional company providing end-to-end data and AI solutions. This investment by Amethis marks an important milestone in our journey towards revolutionizing how data and AI drive decision-making in businesses across the region. We are not just developing technology; we are shaping the future of how businesses understand and utilize data across our end markets.”
Hafdi Salah, BBI’s Co-founder & Managing Partner, commented:
“I would like to thank the Amethis team for their trust in BBI. We believe this partnership will help us enhance our solutions offering, expand our market reach, and fortify our position as a leader in the data management industry. To drive innovation and deliver excellence, our immediate plans include expanding our team with world-class talents in data science and AI and deepening our collaboration with industry partners. Together, we will redefine the landscape of enterprise data management, offering solutions that are not only technologically advanced but also tailored to meet the evolving needs of our clients.“
Toufic Khoueiry, Partner at Amethis, stated:
“BBI is MENA’s leading data management consultancy firm, differentiated through its strong partnerships, wide service offering, and deep sectoral expertise put to test across the region’s largest markets. By investing in BBI, we are backing a regional specialist run by high-quality entrepreneurs operating in a sector that is poised for continued growth.”
Amethis was advised by Arc Capital and Maatouk Bassiouny & Hennawy, while BBI’s shareholders were advised by Tanami Financial Advisory and Dawoud & Dawoud.