Saudi Advanced Industries Company (SASE:2120) signed non-binding memorandum of understanding to acquire Dar Al Balad Business Solutions Company from Dar Al-Balad Holding Company on June 3, 2024. The agreement is conditional on the results of the financial and legal due diligence work and negotiations to reach the final evaluation. In 2023, Dar Al Balad Business reported net profit of SAR 30 million.