Riyadh – Mubasher: BinDawood Holding Company has entered into exclusive negotiations with TF1 group, a French leader in content production, publishing, and distribution, to acquire a majority stake in the latter’s subsidiary Ykone.
The potential transaction will be carried out through Future Retail for Information Technology Company (Future Tech Retail), a wholly-owned unit of BinDawood, according to a bourse disclosure on Sunday.
Ykone is a marketing agency that offers tech services related to travel, beauty, fashion, and luxury brands. Meanwhile, it operates in Europe, Asia, the US, and the Middle East.
The French company offers end-to-end solutions about strategy, talent management, content production, and monitoring to over 200 brands across the globe, including MENA.
Last March, Future Tech Retail acquired a 62% equity in the International Applications Trading Company (IATC) for an initial purchase value of SAR 107.50 million.
