RIYADH: Saudi-born entertainment and sports technology platform webook.com has made its first move into Europe with the acquisition of Portugal-based SmartMove, an event technology company with more than 30 years of market experience.
The deal gives webook.com an operational base in Europe and expands its capabilities in membership management, ticketing systems, and access control, as well as customer relationship management, e-commerce, and digital event operations, according to a press release.
Financial terms of the transaction were not disclosed, but the company said it has reached more than 17 million users across more than 180 countries and processed more than 40 million ticket bookings.
The acquisition marks an important step for the Kingdom’s technology sector, and reflects the growing international ambitions of Saudi-born companies and aligns with the broader goals of Vision 2030.
“Webook.com was built in Saudi Arabia with global ambition from day one,” said Nadeem Bakhsh, CEO of webook.com.
