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Foursan Group acquires 21% of MenaITech

Foursan Group, a Middle Eastern private equity firm, has acquired a 21% stake in software development house MenaITech.

Foursan Group, a Middle Eastern private equity firm, has acquired a 21% stake in software development house MenaITech.

Established in 2003 in Jordan, MenaITech is offers on-premise and cloud-based human resource solutions. The company currently serves over 2,500 clients covering over 1.5 million users, across over 19 countries.

Foursan joined has MenaITech’s Board of Directors and holds one of the company’s five board seats.

This is the fourth investment by Foursan in its latest fund following its acquisitions of Polymedic, a generic pharmaceuticals manufacturer in Morocco, Sands National Academy, one of the largest K-12 schools in Jordan and Jo Academy, a leading online private tutoring platform in Jordan.

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