solutions’ acquisition of Giza Systems part of expansion plans: CEO

Omar Al-Noamani, CEO of solutions

Omar Al-Noamani, CEO of Arabian Internet and Communications Services Co. (solutions), said that the acquisition of Giza Systems Co. is part of stc’s expansion plans and solutions’ strategic plans to lead digital transformation in Saudi Arabia. Digital transformation in the Kingdom witnesses strong qualitative leaps, in light of Vision 2030, which places digitalization as one of its key pillars. solutions plays a leading role in enabling digital transformation and contributing to the Kingdom’s digital future by providing innovative and integrated digital solutions, being the technology arm of stc.

For solutions, this acquisition represents a strategic step in line with the company's international expansion strategy and an opportunity to enhance the position of the Kingdom and its information and communication technology (ICT) sector. Solutions is a leading IT service provider in the Kingdom’s business sector. It has started operations since more than two decades and provided digital solutions for the public and private sectors. It has a strong experience through partnerships with more than 150 global and local partners.

“Giza Systems, information technology leading systems integrator that provides many technical solutions, It has a track record of more than 40 years. It developed to become a regional power, digital transformation enabler and a leader in systems integration in the MEA region. Giza Systems has offices in Saudi Arabia, the UAE, Qatar, the US, which allows it to service an ever-increasing client base in over 25 countries. The acquisition affirms our intention to strengthen solutions position in global markets, such as the UAE, Egypt and Qatar, and to enter new markets and expand business lines to meet the evolving needs of solutions customers and investor expectations,” Al-Noamani said.
 

solutions announced today, April 4, signing a binding offer to acquire 89.49% of Giza Systems Co. from Inergia Technologies for Information Systems, in addition to 34% of Giza Arabia, a subsidiary of Giza Systems.
 

The transaction will be based on an enterprise value of $158 million. The binding offer is exclusive between the parties for 12 weeks following the signing date.
 

Giza Systems provides services through its offices in Saudi Arabia, the UAE, Qatar, Egypt, the US, etc. for customers in more than 25 countries.

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