News
Freshfields advises Arabian Internet and Communications Services Company on the acquisition of Contact Center Company
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, LLC. Valued at SAR 450 million (approximately $120 million), the acquisition will be funded by solutions by stc’s own cash resources.
For over 25 years, solutions by stc has been one of Saudi Arabia’s leading providers of IT solutions – and its acquisition of ccc by stc, one of the Middle East’s leaders in customer experience management, 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 and senior associate Maha Osman, with principal support from associates Nalothiya Nambirajah and trainee Miya Modhvadia. Significant support was also provided by members of our Riyadh office, including associates Muyasser Albar, Basil Bostami and Abeer Al-Othman.
