Singapore-based Near acquires a minority stake in MEmob+, owned by Dubai-based Akama Holding, in a deal that values the company at AED91 million.
Akama Holding, the Dubai-based family office with investments in media, tech, and content (including Communicate), has welcomed Near, the leading privacy-led source of intelligence on people, places, and products, as an investor in its SaaS data-driven marketing solutions company MEmob+. The Singapore-based data intelligence specialist has taken a minority stake in a deal that values the company at more than AED91 million ($25 million).
Founded in 2019 by Alexandre Hawari, today the CEO of Akama Holding, and Ihab El Yaman, the then Head of Mobile and Performance Director of Mediaquest, MEmob+ is a leading data mining platform and location-driven product. Its clients, top brands and agencies, rely on its services and data sources to harness their data for growth and maximize their marketing ROI.
The martech company has exclusive partnerships with global and regional first-party data holders, giving it access to billions of device IDs globally, including more than 400 million in MENA. MEmob+ supports brands’ data-driven media activities, location measurement, and footfall attribution, research, and analysis. Its client portfolio includes more than 50 major international and regional clients seeking to improve the precision, performance, and effectiveness of their marketing investments through the optimal use of data. It counts Near among its strategic technology partners.
Near is the global leader in privacy-led data intelligence. The company provides the world's largest source of intelligence on people, places, and products — processing data from over 1.6 billion monthly users in 44 countries. Founded in 2012, Near is headquartered in Singapore with offices in Los Angeles, New York, London, Paris, Bangalore, Tokyo, and Sydney.
This is Near’s first equity stake in the Middle East. It is the result of one year of research and negotiations to find the best partner with which to expand in the Middle East and Africa (MEA). The cash-in transaction will see the funds injected into the business to accelerate its growth and development even further by increasing its customer base, backing product extension, and supporting geographical expansion. In 2020, its second year in operation, MEmob’s turnover grew by 76%. Led by co-founder and CEO Ihab El Yaman, the team behind this exceptional growth will continue to build on its already impressive track record of performance and innovation. Anil Mathews, CEO of Near, will join MEmob’s board of directors.
“Near, a global giant in the data intelligence market, and MEmob+, a regional leader, were destined to find a common ground and a shared ambition,” commented Alexandre Hawari, CEO of Akama Holding, in a statement. “Our technical collaboration has now evolved into a financial one. Together, we will capitalize on the attractive growth dynamics in the emerging markets in MEA to further build out MEmob’s leadership position and create the leading global location data intelligence platform. With Near as an equity partner, MEmob+ is entering a new phase of growth.”
“Our investment in MEmob+ is at the intersection of our core values at Near - innovation and scale,” said Anil Mathews, CEO of Near. “We’ve watched them grow, in size and sophistication, and realized the opportunities that would come from a closer collaboration. We focus on partners with high growth and world-class management and are impressed by the leading position MEmob+ has built. We’re very excited by the synergies that exist between our two companies.”