Jahez Snoonu Acquisition: Outbound M&A Shift Guide

Jahez Group, a Saudi-listed company, has signed a definitive agreement to acquire a 76.56% stake in Qatar’s Snoonu for USD 245 million. The package includes a USD 20 million capital injection earmarked for growth initiatives, alongside USD 225 million used to purchase existing shares. The transaction sets Snoonu’s post-money valuation at USD 320 million (approximately QAR 1.165 billion). In Falak’s reporting, this makes Snoonu the first Qatari startup to surpass the QAR 1 billion mark, and it is described as the single biggest private investment in Qatar’s technology sector.

Structurally, the acquisition is split into buying 8,144,546 shares representing 75% of Snoonu’s capital for USD 225 million (paid in cash and Jahez shares), plus subscribing to 723,960 newly issued shares for USD 20 million, adding 1.56% more ownership. Assiyaq reports that Snoonu founder and CEO Hamad Al Hajri will retain 23.44% and continue leading operations. Governance is set around a four-member board, with Jahez appointing three directors including the chairperson, and the founder holding one seat. This mix suggests control for Jahez with operating continuity for Snoonu.

Why This Cross-Border Move Matters for Gulf Delivery Platforms

The Jahez Snoonu acquisition is also an operating bet on scale across the Gulf Cooperation Council. Falak describes Snoonu as a fast-growing on-demand delivery and e-commerce platform that expanded beyond food delivery into grocery, pharmacy, and courier services, serving individual consumers and corporate clients across Doha and beyond. Assiyaq similarly frames Snoonu as multi-vertical, spanning food delivery, grocery services, e-commerce fulfillment, and logistics solutions. Jahez has stated ambitions to integrate its on-demand technology with Snoonu’s local brand, with expected synergies in logistics, technology sharing, and merchant partnerships to enhance service offerings and accelerate regional expansion.

The deal lands in a moment when Jahez is balancing investment with performance pressure. WASSSL reports that Jahez secured a USD 40 million (SAR 150 million) Shariah-compliant credit facility from the National Bank of Bahrain, signed on August 18, 2025, spanning eight years and intended primarily to fund a new headquarters. In the same source, Jahez’s Q2 2025 net profit is reported to have fallen 22% to SAR 23.6 million (USD 6.29 million), compared with SAR 30.2 million (USD 8.05 million) in the same quarter last year, attributed to lower adjusted EBITDA and higher depreciation expenses. It also notes the share price fell 0.81% at the start of trading on August 19, 2025, closing at SAR 23.16.

For Qatar’s startup ecosystem, the transaction is framed as a benchmark exit. Techrevolt describes it as Qatar’s first tech exit of this scale, and says it sets a benchmark for scale, valuation, and exit potential for founders and investors in the country. Falak emphasizes the deal’s national significance as a landmark infusion that could catalyze further capital flows into local startups and highlight Qatar’s ability to build globally competitive tech companies. For Jahez, it is positioned as a strategic entry into the Qatari market, pairing its regional network with Snoonu’s presence, while Snoonu signals plans to invest in product innovation, partnerships, and its technology backbone.

What is the headline value and ownership stake in the Jahez–Snoonu deal?

Jahez agreed to acquire a 76.56% stake in Snoonu for USD 245 million. The amount includes a USD 20 million capital injection alongside USD 225 million used to buy existing shares.

How was the Snoonu purchase structured between existing and new shares?

Jahez will buy 8,144,546 shares representing 75% of Snoonu’s capital for USD 225 million, and subscribe to 723,960 newly issued shares for USD 20 million. The subscription adds 1.56%, bringing total ownership to 76.56%.

Will Snoonu’s founder still run the business after the acquisition?

Yes. Assiyaq reports founder and CEO Hamad Al Hajri will retain 23.44% ownership and continue leading Snoonu’s operations under a four-member board structure.

How does this deal connect to Jahez’s recent financing and performance figures?

WASSSL reports Jahez secured a USD 40 million Shariah-compliant credit facility from the National Bank of Bahrain on August 18, 2025, over eight years, mainly for a new headquarters. The same source reports Jahez’s Q2 2025 net profit fell 22% to SAR 23.6 million from SAR 30.2 million a year earlier.

Why do observers call the Jahez-Snoonu acquisition a milestone for Qatar’s tech ecosystem?

Falak reports the transaction places Snoonu’s post-money valuation at USD 320 million (approximately QAR 1.165 billion), making it the first Qatari startup to surpass the QAR 1 billion mark. Techrevolt describes it as Qatar’s first tech exit of this scale and a new benchmark for founders and investors.

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