MONEY & BANKING

BERYTECH FUND INVESTS IN CAPITAL BANKING SOLUTIONS Berytech Fund II has acquired a stake in software developer Capital Banking Solutions (CBS) for $5 million. Both parties declined to disclose the new shareholding distribution. Sources close to the deal estimated Berytech’s share to be under 40 percent. Samer Hanna, Chairman of CBS, said that the proceeds will be used for geographical expansion as well as the creation of new products. “We will beef up our team in order to grow faster,” he said. The company plans to enter the Gulf region. It is also in the process of entering the Greek market, and plans to expand to oil-rich countries in Eastern Europe, according to Hanna. CBS plans to expand its investment in the digital industry as it believes in the full digitalization…

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Lebanon Opportunities (Digital) - 1 Issue, Jul-18

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