Saudi Arabia’s Morni is eyeing acquisitions in Egypt: Saudi roadside assistance and automotive service provider Morni is looking to debut in the Egyptian market by acquiring local firms, and has hired Exits as its buy-side advisor, according to a statement (pdf) out yesterday. The startup plans to invest USD 10 mn by the end of the decade on Egypt acquisitions as part of its regional expansion strategy, Exits co-founder Ahella El Saban told Enterprise.

About Morni: The Saudi startup already operates in a number of GCC countries including Bahrain, serving over 1.2 mn customers. Morni is looking to expand across the region and is also looking to enter the UAE in addition to Egypt, El Saban said.

Potential candidates? Some of the most prominent RAS players in the local market include Odiggo, a tech company that allows drivers to connect with suppliers and service providers, and automotive service provider 3atlana.

Exits’ role: “The buyer comes in and they have a specific expansion plan and we source and find the startups they can buy,” El Saban said. “The Egyptian market, the mere size of it, makes it attractive to any investor and the exchange rate makes it a very lucrative market for many investors,” she added. The advisory outfit was acquired by Mohamed Aboulnaga’s Pie Consulting earlier this year, and closed a USD 1 mn pre-seed funding round in September.