Article contents
- Introduction to the Saudi-European acquisition deal
- Expanding horizons and supporting national vision targets
- The Portuguese company’s history and expertise in sports tech
- Technical integration between the capabilities of the two leading companies
- Senior management statements on the future vision
- Future plans and growth on the European continent
- Frequently asked questions
Introduction to the Saudi-European acquisition deal
In a historic step reflecting the development and strength of the technology sector in the Kingdom of Saudi Arabia and its ability to compete in global markets, the locally and regionally leading platform “Webook.com” announced today the completion of a strategic and significant acquisition deal for the Portuguese company “Smart Move”. The acquired company is one of the most prominent and active companies specialized in event technology, membership management, and advanced ticketing systems, in addition to providing comprehensive technical solutions in on-site access control, customer relationship management software, and e-commerce solutions. It also manages and develops complex operational processes for digital and live events in Europe to meet the aspirations of major fan clubs.
Expanding horizons and supporting national vision targets
This prominent acquisition marks a very bright and notable milestone in the evolution of the tech sector in the Kingdom, making the Saudi platform one of the first entertainment and sports technology platforms in the region to successfully achieve its aspirations for global expansion through the direct acquisition of a heavyweight European tech platform. This achievement clearly reflects the growing capabilities of Saudi tech companies and their success in exporting local technologies and expanding with confidence into challenging global markets, directly and effectively contributing to the ambitious targets set out in Vision 2030. The platform was initially founded to meet the growing local demand for attending major events, before rapidly evolving into a powerful global platform reaching more than 17 million active users across more than 180 countries worldwide, successfully processing and tracking over 40 million ticket booking requests thanks to its exceptionally robust infrastructure.
The Portuguese company’s history and expertise in sports tech
The Portuguese company boasts a track record and accumulated professional experience of over 30 years of continuous work in this meticulous field, and is indisputably one of the most prominent and established sports tech companies operating in Portugal. The company is distinguished by providing the essential and solid technical backbone for complex ticketing platforms and customized fan membership registration systems for Portugal’s largest and most famous legacy clubs. Its prominent client list also includes the Portuguese Football Federation, the Liga Portugal, and national cup organizers, alongside providing specialized ticketing platforms for major corporations. This long technological heritage in one of Europe’s most football-passionate nations gives the acquiring company a strong and strategic foothold on the continent, enhancing its credibility and standing.
Technical integration between the capabilities of the two leading companies
This smart acquisition harmoniously and effectively combines the long-standing expertise of the Portuguese company in sports club membership management, precise ticketing systems, and live event management with the immense innovative capabilities of the Saudi platform. These innovations are embodied in streamlining event discovery, facilitating high-demand ticket sales that experience heavy fan turnout, and elevating digital fan engagement levels. The Saudi platform heavily relies on artificial intelligence technologies to combat black market ticket scalping, implement attendance-linked digital ticketing systems, energize the digital commerce sector, and establish a scalable and continuously evolving cloud infrastructure to support massive entertainment events with high flexibility and top security.
Senior management statements on the future vision
On this historic occasion, Mr. Nadeem Bakhsh, CEO of the platform, expressed his immense pride, stating: “Our platform was founded in the Kingdom of Saudi Arabia with a firm global ambition from its very inception. This deal represents a prominent model of the Kingdom’s success in the technology arena, clearly reflecting the ability of Saudi companies to develop platforms genuinely capable of global competition and attracting top expertise.” He emphasized: “Vision 2030 has provided us with a stimulating and supportive environment to think with greater ambitions and expand toward global markets with confidence and certainty. By uniting our capabilities, we look forward passionately to redefining the live entertainment ticketing experience to meet the aspirations of fans across Europe.” For his part, Antonio Bricatado, General Manager of the Portuguese company, stated that this integration represents a tremendous and golden opportunity to transfer their advanced model to other clubs.
Future plans and growth on the European continent
The platform chose Portugal to be its official and primary gateway for launching its expansion operations on the European continent, leveraging Portugal’s distinguished and prestigious position in the world of football, its booming tourism sector, and its advanced digital infrastructure. Mr. Nadeem concluded his remarks by noting that this is the type of global expansion growth that Saudi tech companies are now fully capable of achieving and delivering, adding that it is no longer limited to physical expansion alone, but now includes transferring advanced locally developed infrastructure to the world. The platform is strongly expected to unveil a package of new strategic partnerships and massive entertainment projects on the European continent within the next few weeks.
Frequently asked questions
Question: What is the European company acquired by the Saudi platform?
Answer: The Saudi platform acquired the Portuguese company Smart Move, a leading firm with over 30 years of experience in technology.
Question: What is the strategic goal of this international acquisition?
Answer: The acquisition aims to export advanced Saudi technologies to global markets and establish a strong operational base for the platform in Europe.
Question: How will the technologies of both companies be integrated to improve the user experience?
Answer: The long-standing expertise of the Portuguese company will be combined with the advanced technologies of the Saudi platform, which uses artificial intelligence to prevent ticket scalping.
Question: Are there future plans to expand into other European countries later on?
Answer: Yes, Portugal represents the initial launch gateway, and further partnerships and expansion projects are expected to be announced soon.
