Freshfields Bruckhaus Deringer (‘Freshfields’) has advised Arabian Internet and Communications Services Company (“solutions by stc”) on the acquisition of 100% of Contact Center Company (“ccc by stc”) from Saudi Telecom Company and ESM Holdings.
Valued at SAR 450 million (approximately USD120 million), the acquisition will be funded by solutions by stc’s own cash resources.
The acquisition by IT solution provider, Stc, of customer experience management, ccc, provides a strategic foothold in a rapidly growing tech market within Saudi Arabia.
The Freshfields team advising on the transaction was led by global transactions partner Pervez Akhtar (pictured right) and senior associate Maha Osman (pictured left), with principal support from associates Nalothiya Nambirajah and trainee Miya Modhvadia. Significant support was also provided by members of the Freshfields Riyadh office, including associates Muyasser Albar, Basil Bostami and Abeer Al-Othman.