Alif Yaa is in talks to buy Ajyalna schools

Alif Yaa is in advanced talks to buy a controlling stake in Ajyalna Education, the Saudi school operator, people familiar with the negotiations told Bloomberg. Asharq Business carried the report on 7 October 2026. Some of those people said the Riyadh company could be valued at about 500 million dollars. No decision has been taken. The stake under discussion includes the holding of Sulaiman Alrajhi Holding. A signed sale was not announced. Alif Yaa is a Dubai school operator, not the Abu Dhabi learning-software firm Alef Education. The names sit next to each other in Arabic and are easy to mix. This company runs schools. Its site lists 15 schools across Gulf states and more than 20,000 students. TA Associates, the private equity firm, bought a majority in 2024. Ajyalna runs 10 private and international schools in Saudi Arabia and teaches more than 17,000 pupils from kindergarten to the end of secondary school. A combined group would be about 25 schools and more than 37,000 students, if the counts still hold on the day a contract is signed. The 500 million dollar figure is a valuation talk, not a price paid. People familiar asked not to be named. Bloomberg did not publish a revenue line, a fee per pupil, or how much of Ajyalna would change hands beyond a controlling stake. Alrajhi’s holding is the piece described as far along. Other shareholders were not listed in the notes. Until a filing or a company statement appears, the deal can still fail on price, on regulatory approval, or on a seller who stays. For parents in Riyadh, the practical question is the operator, not the fund. A UAE group backed by a Boston private equity firm would set fees, hiring and the curriculum partners at ten Saudi schools. Private and international schools in the Kingdom have been adding seats as expatriate and local demand both rose. A buyer at this size is paying for campuses and enrolments already on the books. It is not paying for a new teaching app. TA Associates took control of Alif Yaa two years ago. A Saudi add-on is the usual next step for that kind of owner: more schools, one back office, a larger exit later. The regional pattern is Gulf school groups crossing borders while software firms sell into the same classrooms under a similar Arabic name. Alef Education reports nearly two million students on its platforms. Alif Yaa’s 20,000 are pupils in buildings it runs. A reader who conflates the two will think a software company is buying campuses. It is not. No cheque has moved. The 500 million dollars can change or disappear. Student counts are company figures. Talks at an advanced stage are not a close. If Alif Yaa and Ajyalna name a price and a stake, the schools have a new majority owner. If the next note is silence, count campuses still under the old board. The number to wait for is the stake, in percent, not the ceiling on the valuation.