Giza Systems accepts Solutions by STC’s offer to acquire 89.5% of its group

Giza Systems accepts Solutions by STC’s offer to acquire 89.5% of its group

Giza Systems, digital transformation enabler and a leader in systems integration in the MEA region, announces that it has received an offer by the Arabian Internet and Communications Services Company (solutions by stc).

The Board of Directors accepted the offer for acquisition of 89.5% of the Giza Systems Group by Solutions by STC. The board has subsequently recommended to its shareholders acceptance of this sale, subject to obtaining the necessary regulatory and legal approvals.

The company will remain independent company with its own brand. There will be no change to its organizational structure and operational governance, with Shehab ElNawawi continuing as Chairman of the Board, and Osama Sorour as CEO of the Group.

“Over the years, Giza Systems exceptional teams have been able to deliver unmatched services, which have earned us the privileged trust of our clients as we understand their challenges and work towards adding value to their organizations. With solutions support, we will be able to leverage resources, grow teams, and gain more access to KSA market for the acceleration of our growth, while remaining independent in terms of our management and organizational structure,” said Osama Sorour, CEO of Giza Systems.

The acquisition is subject to customary closing conditions and regulatory approvals, and is expected to close in the next few months.

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