ABU DHABI (Reuters) – The company, in which Global Holdings is a major shareholder, will spend the 3.1 billion dirhams ($845 million) it raised when it listed last month on expansion deals, the chief executive of Multiplay Holdings said on Friday.
Multipleplay was established in 2003 as a communications agency and was acquired by Global Holding in 2020 before being listed on the Abu Dhabi market.
Multiplay, a technology-focused holding company, also includes businesses in refrigeration and driving education, as well as spa services.
The company’s CEO, Samia Bouazza, told “Reuters” that the majority of the aforementioned amount will be spent on investments and acquisitions, and will be “almost equally” distributed over all business units.
“We are very bold and we are very aggressively looking for good opportunities,” she said, adding that the company is considering several deals in Europe.
No details were given about the potential deals.
“The time frame will be determined as soon as opportunities arise,” she said.
Multipleplay announced at the end of December that it would invest 275 million dirhams in Getty Images, ahead of an expected merger this year between the media company and a special purpose acquisition company.
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