Cairo – Mubasher: The board of directors of Raya Contact Center approved a decision to proceed with the acquisition of 85% of Bahrain's Gulf Customer Experience, amounting to 335,829 shares. 

The Bahrain-based firm operating in the business process outsourcing sector has been valued at $14.32 million, Raya said in a bourse disclosure on Sunday. 

The board greenlighted the signing of the share purchase agreement and all other contracts related to the transaction and approved Solid Capital for Financial Advisory's valuation report of Gulf Customer Experience at $15.68 million. 

In the first half (H1) of 2021, Raya Contact Center logged consolidated net profits of EGP 9.75 million, down from EGP 20.6 million in H1-20, including minority shareholders' rights.