Saudi Outbound M&A Expansion Surges Past $7.7B in H1 2025
Saudi Arabia’s outbound mergers and acquisitions (M&A) strategy is entering a new era of scale and sophistication. In the first half of 2025 alone, Saudi acquirers deployed US$7.7 billion in overseas deals, already surpassing the full-year total for 2024. This surge places Saudi Outbound M&A Expansion ahead of its regional peers in both volume and strategic ambition.
While the UAE and Qatar are also ramping up cross-border acquisitions, Saudi Arabia, particularly through the Public Investment Fund (PIF), is leading with bold plays in technology, gaming, and consumer sectors. The US$3.5 billion acquisition of Niantic’s games business by Scopely, a subsidiary of PIF-backed Savvy Games Group, exemplifies this ambition.
$7.7B in H1: Saudi Outbound M&A Expansion Outpaces 2024
Saudi acquirers have wasted no time in 2025, deploying US$7.7 billion in outbound deals within just six months, already eclipsing the US$5.5 billion total recorded in 2024. This sharp uptick reflects a strategic pivot away from oil-centric investments toward diversified global assets.
Spearheading this expansion are sovereign wealth funds (SWFs), particularly the Public Investment Fund (PIF), which is aggressively targeting high-growth sectors such as gaming, technology, and consumer goods. The US$3.5 billion acquisition of Niantic by PIF-backed Savvy Games Group exemplifies this shift, positioning Saudi Arabia as a serious contender in the global digital entertainment space.
Tech & Gaming Dominate: $3.5B Niantic Deal Leads the Pack
The standout transaction of the year so far is PIF-backed Savvy Games Group’s US$3.5 billion acquisition of Niantic, the U.S. gaming firm behind Pokémon Go. This move underscores Saudi Arabia’s growing appetite for digital entertainment and its ambition to become a global player in the gaming industry. Savvy’s success with Monopoly Go has only reinforced investor confidence in outbound tech plays.
Strategic Diversification Drives Saudi Outbound M&A Expansion
Saudi Arabia’s Vision 2030 blueprint is more than a domestic reform agenda, it’s a global investment strategy. By channeling capital into overseas targets, the kingdom is hedging against oil volatility and positioning itself in emerging industries. Technology, media, and telecoms accounted for three of the five largest outbound deals in H1 2025, signaling a clear thematic shift.
Beyond Oil: Consumer & Innovation Sectors Gain Momentum
While energy remains a foundational pillar of Saudi investment, outbound M&A is increasingly targeting consumer brands and innovation-driven enterprises. This reflects a broader redefinition of national priorities, as sovereign wealth funds seek assets aligned with sustainability, digital transformation, and lifestyle diversification.
Domestically, the acquisition of Pure Beverages Industry Co. (best known for its Ival and Oska bottled water brands) illustrates this shift. Though not an outbound deal, it mirrors the same strategic logic: expanding into consumer sectors that complement Saudi Arabia’s evolving economic identity. These priorities are now being echoed in global acquisitions, where Saudi dealmakers are looking beyond hydrocarbons to build influence in tech, media, and consumer markets abroad.
MENA M&A Value Hits $78B by August: Saudi Leads the Pack
Saudi Arabia’s outbound momentum is part of a broader regional surge. Across the MENA region, M&A activity is booming. By August 22, total deal value had reached US$78 billion, already eclipsing the full-year figure for 2024. While the number of deals has remained relatively stable, the average deal size has grown significantly, driven by megadeals and strategic acquisitions.
Saudi Arabia and the UAE account for a substantial share of this value, with Qatar emerging as a fast-growing player. The region’s SWFs are increasingly active not only in energy but also in sectors such as fintech, logistics, and healthcare. This diversification is helping MENA economies hedge against geopolitical risk and oil price volatility.
Outlook: Saudi Outbound M&A Expansion Set to Accelerate
With access to capital improving and regulatory reforms boosting investor confidence, Saudi outbound dealmaking is expected to maintain its upward trajectory. The second half of 2025 is already showing signs of continued momentum, with megadeals and strategic acquisitions in the pipeline. As Saudi Arabia deepens its global footprint, outbound M&A will remain a cornerstone of its economic diplomacy.
Also Read: Saudi Inbound M&A Hits $3.5B in H1 2025 Amid Global Expansion Ambitions
