Riyadh – Mubasher: Axelerated Solutions for Information and Communication Technology Company signed a preliminary memorandum of understanding (MoU) with Al Wathiqa Al Masiya to acquire a 30% stake in the Shaheen Electronic Insurance Broker Platform.

The MoU does not specify a fixed term and shall remain in effect until the completion of due diligence procedures, the company noted in a bourse disclosure.

The deal, signed on 1 June 2026, is subject to the completion of due diligence procedures, negotiation and execution of the relevant definitive agreements, and obtaining the necessary approvals.

Meanwhile, Axelerated Solutions will announce any further details about the transaction in due time.