ArabFinance: Raya Contact Center’s (RACC) board of directors has approved to commence the procedures for purchasing 335,829 shares in Gulf Customer Experience (Gulf CX), the company revealed in a statement to the Egyptian Exchange (EGX).

Under the acquisition deal, Raya Contact Center aims to acquire 85% of Gulf CX’s capital for $14.32 million, the company highlighted.

Additionally, the board of directors has endorsed the final report conducted by the independent financial advisor Solid Capital, which estimated the total value of Gulf CX at $15.68 million, according to the statement.

Raya Contact Center is an Egypt-based company engaged in the provision of business process outsourcing services. Its services are structured into four divisions: contact center, back office, inside sales, and professional services.