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Asharq Al-Awsat
Asharq Al-Awsat
Business
Riyadh - Asharq Al-Awsat

STC Solutions Announces Binding Offer to Acquire Giza Systems Co.

STC Saudi Arabia Kingdom
STC announced a binding offer to acquire 89.49% of Giza Systems Co. from Inergia Technologies for Information Systems. (Asharq Al-Awsat)

Saudi Arabian Internet and Communications Services Co. (solutions by STC) announced 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.

In a statement to Tadawul, solutions said the transaction will be based on an enterprise value of $158 million, to be paid in cash.

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