The day in M&A: Egypt-born startup ArabyAds closed a major international acquisition, while Refinitiv data puts Egypt at #3 in MENA for the value of inbound M&A in 9M 2022.

Egypt-born adtech startup ArabyAds has acquired global influencer marketing platform indaHash for an undisclosed sum, according to a statement. The acquisition — which comes just weeks after Dubai-based ArabyAds closed a USD 30 mn pre-series B funding round — will give it access to new markets across the world. The founders of indaHash will continue to run the company under the larger ArabyAds brand, according to the statement. Launched in Poland in 2016, indaHash has run influencer marketing campaigns in 115 markets for brands including, Danone, McDonald’s and Samsung.

More acquisitions in the cards for ArabyAds? “We will continue our commitment to associate with technology leaders who share similar business synergies and strengthen our entry into new markets,” said Gulrez Alam, chief investment and strategy officer at ArabyAds.

About ArabyAds: Founded in 2013 by Mahmoud Fathy (LinkedIn) and Mohammad Khartabil (LinkedIn), the Egypt-born company is currently headquartered in the UAE and has offices in Egypt, Tunisia and Jordan. ArabyAds offers online and in-app marketing and data insight tools in more than six countries, and last year acquired influencer marketing agency Dmenta, which also operates in Egypt.

EGYPT #3 FOR INBOUND M&A IN MENA-

Egypt attracted USD 6.5 bn in inbound M&A during the first nine months of 2022, making it third-biggest destination in the MENA region after the UAE and Saudi Arabia, according to Refinitiv data cited by Zawya. At USD 21.3 bn, the UAE accounted for more than half of the region’s inbound M&A between January and September, while Saudi received USD 7.1 bn.

Dealcount at record high: The value of M&A in the region fell 17% to USD 69.7 bn in 9M 2022, though the number of agreements climbed 5% to reach the biggest first nine-month total since records began in 1980.

The biggest transactions with MENA involvement: Canadian investment fund CDPQ’s purchase of a stake in DP World for USD 5 bn. E&’s USD 4.4 bn acquisition of 9.8% of Vodafone came in second.