The National Security Services Company (SAFE), which leads the transformation of the local security services sector, has signed an acquisition agreement to acquire ABANA Enterprises Group Company’s assets connected to the transit of cash and valuable goods.
Industry sources added that ABANA Enterprises Group Company is at the forefront of providing such services in the Kingdom. This step affirms SAFE’s ambitious approach aimed at providing a full range of specialized services to its customers in the Kingdom and GCC countries.
Turki Bin Matooq Al Thonayan, SAFE’s CEO commented “The acquisition of ABANA Enterprises Group Company’s assets connected to the transit of cash and valuable goods will help SAFE achieve its primary goal of providing the most advanced security solutions and services for customers while continuing our commitment as an active company within the banking sector and continue our contribution to the kingdom’s Vision 2030.”
Industry Sources added that the signing ceremony was held in Riyadh, Saudi Arabia in the presence of SAFE and ABANA Board of Directors. The two parties are currently working on the transfer of the acquired assets and operations to SAFE, and expect this to be finalized by the end of May.
Industry sources further revealed that founded in 1977, ABANA is proud of its wide base of partnerships with many leading businesses in the Kingdom, including many elite national banks to help them achieve operational efficiencies. It relies on professional institutional values that drive all its operations and reliable services to continue its successful journey. Through its customer-centric approach, it provides them with fully compatible services to meet their requirements and needs.