DLA Piper: Zain Group ventures into E-Sports and Cloud Services
ZainTech, the one-stop digital and ICT solutions powerhouse of Zain Group, advised by DLA Piper Middle East, has entered into a USD45 million agreement for the complete acquisition of BIOS Middle East, a regional managed secure cloud provider with a presence in the United Arab Emirates, Saudi Arabia and Oman. The acquisition, subject to regulatory approvals, will result in the full migration and integration of BIOS Middle East’s operations within ZainTech over the next 12-18 months.
The firm has further advised Zain Group on its recent joint venture with gaming start-up PLAYHERA. The joint venture, “PLAYHERA MENA”, is a Saudi Arabia-based next generation gaming tournament platform which will target the region’s gaming market and help diversify Saudi Arabia’s economy as part of its Vision 2030.
The DLA Piper team was led by Will Seivewright (partner and head of corporate Middle East, pictured), supported by Nassar Nassar (corporate associate, Dubai office).