GO completes acquisition of 51% stake in eJad Tech

The acquisition will be financed using the company’s own resources, according to a statement to Tadawul.

Under the agreed terms, GO will make an upfront payment of SAR 40 million upon signing and closing of the deal. The remaining SAR 46.7 million will be paid in two installments, with SAR 23.7 million due by the end of 2025 and SAR 23 million by the close of 2026, contingent on fulfilling the predefined performance targets.

The company said that the SAR 40 million was paid on March 27, following the approval of the acquisition by GO’s shareholders during the general meeting and after the signing of the acquisition agreement with eJad Tech on Dec. 11, 2024.

GO said that the acquisition’s financial impact began reflecting in its Q3 results ended Dec. 31, 2024. The acquisition’s procedures, ownership transfer, and all regulatory documentation were finalized on June 22, 2025, the statement said.

The acquisition of eJad Tech’s stake is one of the main pillars of GO’s new strategy, which aims to expand its business footprint through buyouts and capitalize on growth opportunities by entering new sectors. The deal is also expected to enhance shareholders' equity.

eJad Tech is one of the top Saudi companies in the field of IT services and digital transformation consulting. It ranks among the top five companies in the Middle East in localizing and developing digital transformation solutions.

The company seeks to offer integrated digital solutions designed to achieve institutional excellence, aligning with the latest trends, implementing best practices, and applying them to meet client needs and enhance satisfaction.

The firm also provides effective tools for governing the development and operation of digital transformation projects, in support of its organizational vision and goals.

In September 2024, GO signed a memorandum of understanding (MoU) to buy a 51% stake in eJad Tech, according to data available with Argaam.