MANAMA - GFH Financial Group yesterday announced the signing of a landmark deal to acquire a majority stake in the ENTERTAINER, the region’s leading incentives provider and lifestyle app.
The ENTERTAINER, which was founded in 2001 in the UAE, has developed a strong merchant partner network in the GCC and beyond based on its longstanding relationships and market-leading technology.
Consumers in 15 countries across the Middle East, Europe, Asia and Africa enjoy unbeatable offers and savings at fine dining restaurants, global restaurant franchises, attractions, leisure activities, golf clubs, water parks, spas, beauty salons, gyms, fitness centres and much more – plus savings on hotel nights around the world.
The company launched an award-winning smartphone app in 2013. It has since shifted fully from a print publication to a data-driven technology company with 38 destination-specific products, and tailored B2B solutions for corporate clients, with offers from more than 10,000 merchant partners.
The transaction saw the existing financial investors fully exit while the founder and chairwoman Donna Benton continues as one of the key shareholders and executive management contributing to the vision and growth of the company alongside GFH.
“Investing in high-growth technology-based companies is now among the cornerstones of GFH’s investment strategy. Over the past 17 years, the ENTERTAINER has established itself as a market leader and we are excited to be joining the company as shareholders during the next phase of development,” GFH chief executive Hisham Alrayes said.
“With a strong and profitable business model, advanced digital platform and the successful global expansion currently underway, we see significant room for even greater value creation in the company’s existing markets as well as new locations in the Middle East, Asia, South Africa and Europe, where it has recently established and is experiencing impressive growth.”
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