Saudi-listed National Company for Learning and Education (NCLE) has signed a deal to fully acquire Riyadh-based Al-Khwarizmi Company for Education for 30 million Saudi riyals ($8 million).

NCLE said that the deal is in line with the company's strategy to expand through acquisitions and purchase of existing high-quality educational complexes in order to achieve its targeted growth and returns, according to a statement on Saudi bourse.

Al-Khwarizmi Company for Education is engaged in owning, managing and operating private, elementary, middle, secondary and kindergarten schools. These include foreign and international schools, special needs schools, educational and training institutes, as well as colleges and private universities.

(Writing by Nada Al Rifai nada.rifai@refinitiv.com ; Editing by Seban Scaria )

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