Performance Report
Acquisition of Giza Systems
A landmark step
solutions by stc completed the acquisition of an 88.19% stake in Giza Systems and 34% stake in Giza Arabia on 4 October 2022, with an enterprise value worth USD 158 million, following the deal’s initial announcement in April 2022. The move aligns with solutions by stc’s ambitious growth strategy and signals a phase of expansion and consolidation in the Middle East and North Africa (MENA), and West, East, and Central Africa (WECA).
The acquisition will diversify solutions by stc’s service offerings and customer base, and strengthen capabilities in key growth areas such as application integration. This is a timely step as the region experiences exceptional growth in the IT sector, and ensures solutions by stc is well placed to compete on the global stage.
Being the first acquisition of its kind, solutions by stc has reinforced its leading role in digital transformation in the Kingdom and region. Furthermore, it reiterates the Company’s commitment to Saudi Arabia’s Vision 2030 goals of developing the ICT industry and increasing the sector’s contribution to the Kingdom’s GDP.
“This acquisition showcases our commitment towards achieving the ambitious goals of stc Group’s growth strategy. We made this strategic decision to acquire Giza Systems in order to accelerate our growth and consolidate our position as the leading enabler of digital transformation in the region. Giza Systems will remain independent and we will work together to diversify our offerings to our clients within Saudi Arabia and beyond.”
Eng Omer Alnomany
Chief Executive Officer, solutions by stc
Giza Systems: a closer look
Giza Systems is a digital transformation enabler and leading systems integrator in the MEA region, which designs and deploys industry-specific technology solutions for asset-intensive industries such as telecommunications, utilities, oil and gas, smart cities, smart mobility, and other sectors. The Company helps clients streamline operations and businesses through a portfolio of solutions, managed services, and consultancy practice. The Company’s services include systems and application integration, as well as emerging technologies. It serves a client base extending across 25 countries, and boasts a team of over 1,600 professionals based out of anchor offices in Cairo, Riyadh, Dubai, Doha, Nairobi, Dar es Salaam, Abuja, Kampala, and New Jersey.
Giza Systems and UN SDGs - Adopting the United Nations’ Sustainable Development Goals
Building on Giza Systems’ commitment to provide technologies that improve quality of life and create value for their communities, and stemming from its belief that positive action is a key factor for sustainability, Giza Systems formalized its efforts and adopted the United Nations’ Sustainable Development Goals (SDGs) by incorporating them as a core part of the Group’s strategy.
“solutions by stc’s acquisition of Giza Systems comes at a time when the regional markets are witnessing an exceptional growth in the ICT sector. Our synergies will enable us to expand our digital offerings in the region. Giza Systems is proud to be part of this significant milestone, through which it can accelerate its growth and gain access to the thriving Saudi market.”
Eng Osama Sorour
Chief Executive Officer, Giza Systems
Key facts about Giza Systems
2,000+
Clients
48+
Years in the market
25
Countries
4
Regions of operation
1,600+
Employees
Founded in
1974
First Egyptian IT company
in Egypt
Headquarters:
Cairo, Egypt
Giza Systems values
People first
Forward thinkers
Own it
Embrace uncertainty
Beginner’s mindset
Giza Systems industries
Telecommunications
Smart mobility
Oil and gas
Smart cities
Power
Manufacturing
Water
Financial services
