SoftBank backs communications firm Unifonic, its first direct investment in Saudi Arabia

Photographer: Kiyoshi Ota/Bloomberg

SoftBank has made its first direct investment in Saudi Arabia, co-leading with a government-owned fund a $125 million financing rounding in communications company Unifonic, the start-up said.

The investment will be used by the Riyadh-headquartered firm to expand its products to more customers, it said in a statement.

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