Raya Contact Center Services Company (RCX), a subsidiary of the Raya Holding Group for Financial Investments, announced, on Monday, that it has acquired an 85% stake in Gulf CX, with a transaction value of $12.2m.
The move comes after Raya Call Center Services Company’s Board of Directors submitted a purchase offer to acquire a controlling stake in Gulf CX. The latter serves more than 40 clients from various sectors in 10 countries around the world.
Gulf CX was established in 2015 in Bahrain as the regional headquarters for its business in the Gulf Cooperation Council (GCC) region, and now serves as the leading call centre services company in the region
The company’s team has extensive experience over 30 years in outsourcing regionally, and operates through three branches in Bahrain, Saudi Arabia, and the UAE. Gulf CX has more than 800 professional outsourcing employees, 90% of whom are citizens of Gulf countries, and provides its services 24 hours a day, 7 days a week.
Medhat Khalil, Chairperson of Raya Holding, said that the company seeks, through the acquisition process, to enhance its capacity. This step is in line with Raya’s strategy for call centre services aimed at enhancing its presence in the local and regional market, and benefiting from qualified human resources to work with high efficiency and across many languages.
Ahmed Rifqi, CEO of Raya Contact Center Services, expressed his pleasure with the success of the acquisition deal. The company has sought to expand its activities and increase its market share in the GCC region in general, and Saudi Arabia in particular.
He added that this deal reflects the technical and financial capabilities of Raya in the region and the world.
Rifqi said that, through the acquisition of Gulf CX, Raya expands its services to major international, regional, and local companies in various government and private sectors. It will cover a variety of fields, especially health, e-commerce, logistics, transportation and food, as well as the financial and banking sector.
He said that the Gulf GX has proven, since its inception, its excellence in providing high quality outsourcing services. For this reason, Raya Call Center Services Company chose it to support its operations in the largest markets in the region.