GROUP ACQUIRES PROVEN’S BPO SERVICES

TMF Group announced the acquisition of the Business Process Outsourcing (BPO), corporate services, corporate immigration and visa services divisions of PROVEN, a business outsourcing organisation in the Middle East.

Since its establishment in 2009, PROVEN has been at the forefront of enabling businesses to operate seamlessly in Saudi Arabia and other Middle Eastern regions, including the United Arab Emirates, Bahrain, Egypt, and Kuwait. It has since expanded to cater to international markets while maintaining its reputation as a trusted partner for organisations looking to streamline their operations.

The acquisition represents a significant step in TMF Group’s expansion as the KSA economy is the largest in the Middle East and the eighteenth largest in the world. With a decade of experience, PROVEN’s team brings a wealth of expertise, advanced technology, and a modern service delivery model to help their partners achieve maximum value creation. This strategic acquisition enables PROVEN to support inbound business from TMF Group’s 125 offices globally while expanding its corporate services value chain. TMF Group will benefit from integrating PROVEN’s regional corporate services businesses into its existing global infrastructure.

“Today’s announcement reconfirms Cisco’s alignment to provide advanced cloud security protection and services to the Saudi community. It builds on Cisco’s long-standing commitment to our customers and reflects our continued support for digital transformation, by using the power of technologies to create a secured thriving digital economy in Saudi Arabia,” Salman Faqeeh, Managing Director of Cisco in Saudi Arabia commented.

As a result, TMF Group will open a new, permanent office in Riyadh, and build on the existing KSA clients currently served by TMF Group’s Dubai office.

On announcing this acquisition, TMF Group’s Head of EMEA Frank Welman commented: “PROVEN has demonstrated significant success in the region and this acquisition represents a milestone in TMF Group’s expansion strategy. The Kingdom of Saudi Arabia is a jurisdiction full of potential and this transaction will enable us to add high-quality service capabilities to TMF Group’s portfolio in the Middle East, where we already have a reputable presence in Qatar and the United Arab Emirates. We look forward to welcoming 57 of PROVEN’s talented employees to the TMF Group’s MEA team after the transaction closes.”