Hassana and GEMS Education acquired Ma'arif.

Hassana Investment Company, the investment arm of Saudi Arabia’s General Organisation for Social Insurance, and GEMS Education, among the world’s oldest and largest K-12 private education providers, acquired Ma'arif, Saudi Arabia’s largest private school operator. Financial terms were not disclosed. Dino Varkey, CEO, GEMS Education said: “We are delighted that we have formalised our joint venture with Hassana, who are the perfect partners to align with the government’s vision to build capacity, enhance educational standards and create jobs in the education sector in Saudi Arabia. The Ma’arif acquisition of 14 schools is an ideal platform from which to grow and we are incredibly excited about further expansion in the country. Saudi is one of the most attractive growth markets for GEMS Education and we are committed to supporting the education sector in the country.”