Clyde & Co Assists STS Through Acquisition by ZainTECH
Clyde & Co, the global law firm, is providing legal counsel to the shareholders of Specialized Technical Services Company (STS) concerning its complete acquisition by ZainTECH. This transaction is currently pending regulatory approvals.
STS, a prominent player in the digital transformation sector across Jordan, Saudi Arabia, the UAE, Bahrain, and Iraq, has been operating since its inception in 1989. With a workforce of over 350 professionals, STS has established enduring partnerships with leading industry names like Cisco Systems, Dell Technologies, IBM, Microsoft, Oracle, and more. The company’s services extend to over 500 clients in diverse sectors, including banking, government, healthcare, education, and telecommunications across the Middle East and North Africa.
ZainTECH, launched in October 2021, is the regional digital and ICT powerhouse of Zain Group. It is dedicated to advancing enterprise and government customers’ transformation and capabilities by embracing and implementing the latest technologies.
Clyde & Co is acting as lead external counsel to the shareholders of STS. The team is led by partner and head of corporate – Middle East, Naji Hawayek (corporate, pictured), and senior associate Afraz Hussain (corporate) who are supported by partners Ray Smith (tax) and Malcolm Frost (tax), and associate Sara Magdy (corporate).
