PayTabs Signs SAR 35 Million Deal to Acquire Saudi Payments Firm SeaPay
The memorandum of understanding covers 100% of SeaPay, but completion still depends on due diligence, a definitive agreement and Saudi regulatory approvals.
RIYADH — PayTabs Group signed a memorandum of understanding on Oct. 22, 2026 to acquire 100% of Saudi payments company SeaPay from Arab Sea Information Systems Company for SAR 35 million. The proposed consideration comprises SAR 15 million in cash and SAR 20 million in kind through an equity stake in PayTabs Group.
The transaction is not yet complete. PayTabs said it remains subject to due diligence, execution of a definitive sale-and-purchase agreement and approvals from relevant authorities, including the Saudi Central Bank. An MOU establishes the parties’ proposed transaction framework; it is not the same as a closed acquisition.
If completed, the deal would give PayTabs another Saudi payments asset as the company expands its regional merchant and payment-services footprint. The practical value will depend on how SeaPay’s technology, customers, licenses and operations fit within PayTabs’ existing platform.
The announced price is transaction consideration, not a claim about SeaPay’s standalone valuation or future revenue. Until the definitive agreement and regulatory process are complete, customers and counterparties should treat ownership and integration plans as subject to change.