Riyadh – Mubasher: Al Moammar Information Systems Company (MIS) has announced the acquisition of a 15% stake in Eltizam Insurance platform, according to a bourse filing.

The transaction is valued at SAR 19.50 million and was finalized following the fulfillment of all closing requirements and the receipt of necessary approvals from the Saudi Insurance Authority (IA) and other relevant regulatory bodies.

The Riyadh-based information technology company MIS confirmed that the regulatory procedures for the deal were officially concluded on 14 May 2026.

This development marks the final stage of an investment process that was first brought to the public's attention in late 2025.

In a previous announcement made on 29 October 2025, MIS unveiled the board of directors’ initial approval to acquire the minority stake in the insurance platform. The company has since worked to meet the administrative and legal prerequisites necessary to formalize the investment.

MIS further clarified that there were no delays in the execution of the transaction relative to its internal timelines. As a result, there were no additional costs incurred during the closing phase, and the company confirmed that the timing of the acquisition had no adverse impact on its financial results. The transition from board approval to final regulatory completion was managed within the expected framework.

Through this equity takeover, MIS positions itself as a significant shareholder in the platform, aligning with its broader objectives in the technology and financial services sectors.

Earlier in 2026, the Main Market-listed MIS welcomed the Nomu-listed Edarat Communications and Information Technology Company (Edarat Group) as a partner in MIS’ National Excellence Data Centers Company with a 40% stake.