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Magnati

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Overview

Magnati is UAE's First Abu Dhabi Bank (FAB) carve-out payment-processor, formed April 2021 1, 2, United Arab Emirates report. February 2022 — FAB sold 60% stake to Brookfield Business Partners for implied valuation up to $1.15 billion 3; FAB retained 40% stake + long-term relationship agreement.

2024-2025 strategic merger 4: FAB + Brookfield announced 100% acquisition of Network International + plan to combine Magnati + Network International under Network Project Holdings 1 Ltd. 2025 — merger completion: Magnati operations merged into Network International LLC under Brookfield-led consortium with FAB.

Combined post-merger metrics: $400B+ combined TPV + 250+ FIs + 240K+ merchants + 20M+ cardholders + 50+ markets.

History

April 2021 — FAB completed payments business carve-out + launched MAGNATI brand 2.

February 2022 — FAB sold 60% stake to Brookfield Business Partners for up to $1.15 billion implied valuation 3.

2024 — FAB + Brookfield announced 100% Network International acquisition + Magnati merger plan.

2025 — Network International + Magnati merger completes: Magnati operations merged into Network International LLC under Brookfield-led consortium 4.

Strategic SA alliance: FAB + Magnati + Geidea alliance to strengthen digital foothold in Saudi Arabia.

Ownership & operator

Operating entity (post-2025 merger): Network International LLC (Brookfield-led consortium with FAB).

Pre-merger ownership (Feb 2022):

  • Brookfield Business Partners: 60% (acquired from FAB for up to $1.15B implied valuation)
  • First Abu Dhabi Bank (FAB): 40% (retained stake + long-term relationship agreement)

Pre-carve-out (April 2021): Magnati was First Abu Dhabi Bank's payments business (Abu Dhabi Commercial Group + FGB merger heritage payments arm).

Regulator: CBUAE (Central Bank of UAE).

Technical integration

Layer Description
Channels API + merchant POS + online checkout
Identifiers Card
Customer type B2B (merchants + financial institutions) — NOT consumer wallet
Coverage UAE primary + Saudi Arabia (post-Geidea alliance)
Post-merger integration: Combined with Network International under Network Project Holdings 1 Ltd
License CBUAE payment processor + acquirer (now merged with Network International LLC)

Users & growth

Pre-merger Magnati standalone (Feb 2022) 3:

  • Implied valuation: up to $1.15 billion (Brookfield 60% acquisition)

Post-2025 combined Network International + Magnati 4:

  • Combined TPV: $400+ billion
  • Financial institutions: 250+
  • Merchants: 240,000+
  • Cardholders: 20+ million
  • Markets: 50+

Use cases

Pre-merger Magnati: UAE merchant payment-processing + card-issuing + FAB-affiliated rails + Saudi cross-border via Geidea alliance.

Post-2025: Now part of combined Network International LLC (Brookfield-led consortium with FAB) MENA + Africa's largest payment-processor.

Implementations & partners

Operator (post-2025): Network International LLC (Brookfield-led consortium with FAB).

Pre-merger strategic partner: Geidea (SA payment-acceptance giant; KSA strategic alliance with FAB + Magnati).

Major shareholders:

  • Brookfield Business Partners (60% Feb 2022 → consortium leader post-2025)
  • First Abu Dhabi Bank (FAB) (40% retained + long-term relationship agreement)

Major MENA payment-processor competitors (now part of combined entity):

Regulator: CBUAE.

Fun facts

  • April 2021 FAB payments-business carve-out + Magnati brand launch.
  • February 2022 — FAB sold 60% to Brookfield Business Partners for up to $1.15B implied valuation.
  • 2025 — Magnati merged into Network International LLC under Brookfield-led consortium with FAB.
  • Combined post-merger entity = MENA + Africa's largest payment-processor ($400B+ combined TPV).
  • FAB + Magnati + Geidea KSA strategic alliance — distinctive UAE-Saudi cross-border payment-ecosystem alignment.
  • Network Project Holdings 1 Ltd = parent vehicle holding combined Network + Magnati.

Comparison

Feature Magnati Network International (now merged sister) Geidea (KSA strategic alliance partner) First Abu Dhabi Bank (FAB; 40% Magnati holder pre-merger) PayTabs (SA payment-orchestration rival)
Operator Magnati (now Network International LLC post-2025; Brookfield 60% Feb 2022 → consortium leader; FAB 40%) Network International LLC (Brookfield-led consortium; sister merged 2025) Geidea (Gulf Capital-acquired SAR 1B 2018) First Abu Dhabi Bank (FAB; ADX: FAB) PayTabs (Abdulaziz Al Jouf 2014)
Type UAE FAB carve-out payment processor (now merged into Network International LLC) MENA + Africa enterprise payment-processor + acquirer SA #1 payment-acceptance + 75% SA market share UAE's largest bank SA payment-orchestration + AI-powered platform
Country UAE + SA UAE HQ + MENA + 50+ markets SA + AE + EG UAE SA + MENA
Scale Pre-merger $1.15B implied valuation (Brookfield 60% Feb 2022); post-2025 part of $400B+ combined TPV with Network $400B+ combined TPV + 250+ FIs + 240K+ merchants + 20M+ cardholders + 50+ markets (post-merger) 700K+ POS terminals + 150K+ merchants + 5M+ daily tx UAE largest bank SAR 325B tx + card volume biggest SA online
Distinctive FAB carve-out Apr 2021; Brookfield 60% Feb 2022; 2025 merger into Network International LLC; FAB+Magnati+Geidea KSA alliance MENA's longest-vintage processor (1994); Brookfield Sep 2024 £2.76B private 2018 Gulf Capital SAR 1B acquisition; Abu Dhabi Grand Prix POS partner 2025; Apr 2026 Planet UAE's largest bank by assets First Arab top-100 global fintech (Oct 2024)

Status

Active, merged into Network International LLC under Brookfield-led consortium 3, 4:

  • Magnati carve-out from FAB April 2021.
  • February 2022 — Brookfield Business Partners acquired 60% for up to $1.15B implied valuation (FAB retained 40%).
  • 2025 — merger into Network International LLC under Brookfield-led consortium with FAB.
  • Combined post-merger entity = MENA + Africa's largest payment-processor.
  • CBUAE-regulated.

Sources

Source

Biography extracted from magnati.md. See matrix.md for standards-support matrix if present.

source · content/wallets/magnati/index.md