BinDawood completed the acquisition of a 62% stake in IATC for $28m.

BinDawood, a Saudi Arabian retailer, completed the acquisition of a 62% stake in IATC, an e-commerce app manager and developer, for $28m. BinDawood had said that the deal is strongly aligned with the company's strategy to boost its position in the e-commerce sector and strengthen its omnichannel presence. The company is currently in talks to acquire a majority stake in Paris-based marketing agency Ykone, a subsidiary of France's TF1 Group.