Riyadh - Mubasher: Dar Al Balad for Business Solutions Company signed a non-binding memorandum of understanding (MoU) to study the potential acquisition of up to 100% of Clouding Computer Systems DWC-LLC and Clouding Intelligence Computer System LLC.

The proposed transaction aligns with the company’s strategic objective to expand its presence within the artificial intelligence solutions sector.

The deal, signed on 3 September, establishes an initial framework for mutual obligations and rights, allowing Dar Al Balad to commence financial and legal due diligence.

It is valid for a period of six months from the date of signing and cannot be renewed without a written addendum between the parties.

The target entities are recognized for their work in enterprise agentic AI and field deployment engineering, having developed the Empathy Studio product.

No financial advisors have been appointed at this stage, though specialized consultants will be engaged for the due diligence process.

Completion of the deal remains subject to reaching a final binding agreement and obtaining necessary regulatory approvals.

Dar Al Balad stated that the MoU carries no financial obligations if the acquisition is not finalized.

In August, the company obtained a Sharia-compliant credit facility valued at SAR 20 million from the Saudi Arabian branch of Emirates NBD.