Go Telecom Acquires 51% of Ejad Tech for $23.12 Million
Deal News | Jun 24, 2025 | Zawya
Saudi Arabia's Etihad Atheeb Telecommunication Co., known as GO Telecom, has successfully acquired a 51% stake in Ejad Tech Co. for Information Technology. The value of the transaction is SAR 86.7 million ($23.12 million), and it is aligned with GO Telecom's strategy to diversify its business operations. The completion date for the transfer of ownership and all regulatory documents was June 22, 2025. Almost half of the payment, SAR 40 million, has been made. The remaining amount is scheduled to be paid in two instalments: SAR 23.7 million by year-end and SAR 23 million by the end of 2026.
Sectors
- Telecommunications
- Information Technology
Geography
- Saudi Arabia – Both Etihad Atheeb Telecommunication Co. (GO Telecom) and Ejad Tech Co. are based in Saudi Arabia, which is the primary geographical location discussed in the article.
Industry
- Telecommunications – GO Telecom operates in the telecommunications sector, providing communication services in Saudi Arabia.
- Information Technology – Ejad Tech Co. offers IT services and digital transformation consulting, making it part of the Information Technology sector.
Financials
- SAR 86.7 million ($23.12 million) – The total transaction value for the 51% stake in Ejad Tech Co.
- SAR 40 million – The initial amount already paid by GO Telecom.
- SAR 23.7 million – The second installment due by the end of the year.
- SAR 23 million – The final installment to be paid by the end of 2026.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Etihad Atheeb Telecommunication Co. (GO Telecom) | Buyer | Company | A telecommunications company based in Saudi Arabia involved in the acquisition of Ejad Tech Co. |
| Ejad Tech Co. for Information Technology | Target | Company | A company providing IT services and digital transformation consulting, acquired by GO Telecom. |