TMF Group expands into Kingdom of Saudi Arabia by acquiring PROVEN’s corporate services business

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Written by TMF Group

TMF Group, a leading provider of compliance and administrative services, today announced the acquisition of the Business Process Outsourcing (BPO), corporate services, corporate immigration and visa services divisions of PROVEN, a leading business outsourcing organisation in the Middle East.

Completion of the transaction is subject to government approvals.

Since its establishment in 2009, PROVEN has been at the forefront of enabling businesses to operate seamlessly in Saudi Arabia and other Middle Eastern regions, including the United Arab Emirates, Bahrain, Egypt, and Kuwait. It has since expanded to cater to international markets while maintaining its reputation as a trusted partner for organisations looking to streamline their operations.

The acquisition represents a significant step in TMF Group’s expansion as the KSA economy is the largest in the Middle East and the eighteenth largest in the world.

With a decade of experience, PROVEN’s team brings a wealth of expertise, advanced technology, and a modern service delivery model to help their partners achieve maximum value creation. This strategic acquisition enables PROVEN to support inbound business from TMF Group’s 125 offices globally while expanding its corporate services value chain. TMF Group will benefit from integrating PROVEN’s regional corporate services businesses into its existing global infrastructure.

As a result, TMF Group will open a new, permanent office in Riyadh, and build on the existing KSA clients currently served by TMF Group’s Dubai office.