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 t...
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