SocialEyez UAE Company which is specialized in the field of digital services, announced on Wednesday, April 6, completing a deal for the acquisition of 100% of BSocial the Egyptian company that works in social networking and digital network management solutions for approximately EGP 10 million.
This step comes well matched with the UAE plans to reinforce investments and support the Egyptian economy, as well as the outstanding work made by BSocial to become the main gate to Socialeyez’s investments in the local market.
Ehab Fares, CEO and founder of BSocial Company said “This acquisition represents a very good chance for the Egyptian expertise, to highlight their creativity in the digital industry. This comes at a time when the Egyptian market is witnessing high growth rates in the number of users of social networking platforms. Recent studies and statistics showed that 94% of social media users in Egypt are using Facebook and Whatsapp daily, while 19% use Twitter and 17% use Instagram. ”
It is worth noting that Ehab Fares will act as the CEO of SocialEyez Egypt.
For his part, Fadl El Tarzi; CEO of SocialEyez, the Digital Services Emarati agency said that, ” The domestic market will have benefit from the global partnerships SOCIALEYEZ has with industry leaders such as Hootsuite and LinkedIn, as well as provide competitive advantages and the transfer of knowledge in the digital field to government authorities in the United Arab Emirates for utilization in the Egyptian market.”
The report generated by the Arab Social Media Influencers Summit in 2015 showed that Egypt, UAE, Qatar, Oman, Jordan, Palestine, Iraq, Yemen, Libya and Morocco are the most 10 Arab countries that use Facebook, while the top users of Whatsapp are the Kingdom of Saudi Arabia in the first place, followed by Kuwait, Bahrain, Syria, Lebanon, Sudan and Algeria.