Zain’s digital arm agreed a deal to acquire Jordan-based technology company STS for an undisclosed sum, boosting the operator’s presence in cloud, managed services and cybersecurity.
The proposed deal will see STS come under the fold of ZainTech, enabling the latter to expand its services to enterprises and government bodies and its competitive offering across the Middle Eastern region.
STS has a presence across home market Jordan, Saudi Arabia, the UAE, Bahrain and Iraq, helping companies with their digital transformation and employs more than 350 people. It has a range of services within its portfolio, including hybrid and multi-cloud solutions, cyber security offerings, infrastructure and system integration capabilities and licensing solutions.
The company counts 500 customers across a range of industries, including big technology players Cisco, Dell, IBM, Microsoft and Oracle.
Bader Al-Kharafi, CEO and vice chairman of Zain said its rollout of 5G services across Jordan and the acquisition of STS would further consolidate the state’s position “as a leading digital hub and a key enabler of innovation and entrepreneurship in the region”.
The acquisition is subject to regulatory conditions and a timeline on possible approval was not provided.