MIS signs deal to buy 75% of Egypt’s Fingerprint Consultancy

29/03/2020 Argaam

 

Al Moammar Information Systems Co. (MIS) signed on March 28 an agreement to acquire a 75% stake in Egypt-based Fingerprint Consultancy, the company said in a statement to Tadawul on Sunday.

 

MIS is finalizing the legal paperwork required for the deal completion.

 

The acquisition is expected to be financed by MIS’ funds from operations. No related parties are involved in the deal, the statement added.

 

On November 21, 2019, MIS signed a memorandum of understanding (MoU) with Fingerprint Consultancy to conduct a feasibility study to acquire 75% of the company.

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