Solutions by Stc completes stake acquisition into Giza Systems
Arabian Internet and Telecommunication Company, Solutions by Stc, an enabler of digital transformation in the Kingdom of Saudi Arabia, has completed the acquisition of a majority stake (88.19%) of Giza Systems with an enterprise value worth USD158 million.
The deal represents an important step towards implementing the ambitious growth strategy set by Stc Group to expand into new markets and business lines, and to invest in promising business opportunities, as a result of the increased demand for communications and information technology services in the region’s markets.
Giza Systems a leading systems integrator in the MEA region, designs and deploys industry-specific technology solutions for asset-intensive industries such as the telecoms, utilities, oil and gas, hospitality and real estate among other market sectors. With over 1,000 employees, the company serves its clients in more than 25 countries around the world.
Matouk Bassiouny & Hennawy (“MBH”) and Freshfields Bruckhaus Deringer acted as legal counsel to Solutions by Stc, with SNB Capital as its financial advisor.
The MBH team assisting on the transaction was led by Omar Bassiouny (founding partner and head of corporate and m&a, pictured) and Yousra Gamgoum (counsel) and included Ahmed Talaat (senior associate), Saifallah Kadry (associate) and Salma Selim (associate).
The Freshfields team was led by partners Pervez Akhtar and Fares Al Hejailan and counsel Abdallah Maher (all pictured above). Associates Nalothiya Nambirajah and Aliana Dhanani provided principal support throughout the transaction. Senior associate Ibrahim Attar and associate Muyasser Albar took the lead on anti-trust aspects of the transaction.
