Cairo – Mubasher: Raya Information Technology, a subsidiary of Raya Holding for Financial Investment, is studying the acquisition of a company.

The targeted company is operating in outsourcing and application development, according to a bourse filing.

In December 2023, Raya Holding signed an agreement to acquire 27.69% equity in Ostool for Land Transport Company.

It is worth highlighting that Raya Holding for Financial Investment recorded a consolidated net profit of EGP 563.88 million in 2023 from EGP 419.23 million a year earlier.