Riyadh - Sharikat Mubasher: Etihad Atheeb Telecommunications Company (GO Telecom) concluded the acquisition of a 51% stake in Ejad Tech for Information Technology (Ejad Tech), a leading provider of IT services and digital transformation consulting, for SAR 86.7 million.

The acquisition came as part of Go Telecom’s new strategy to expand its business base through acquisitions and capitalize on growth opportunities by entering new sectors, the company announced in a bourse statement today.

Both parties agreed that an amount of SAR 40 million would be paid upon signing and closing the deal, while the remaining amount, SAR 46.7 million, will be paid in two installments, by the end of 2025 and the end of 2026.

Ejad Tech aims to provide clients with integrated digital solutions that achieve organizational excellence by keeping pace with the latest trends, studying best practices, and applying them to meet requirements and enhance customer satisfaction.

It also offers effective tools to ensure the governance of development and operational processes for digital transformation projects, ultimately supporting the achievement of the institutional vision.