Etihad GO Telecom Co. — M&A Activity 2025

Jun 23, 2025

Etihad Atheeb Telecommunication Co. (GO Telecom) announces the Conclusion of the Acquisition of a 51% share of the capital in EJAD TECH Co.

7040 · 23/06/2025 09:23:21 · Announcement #88306 · View on Saudi Exchange

Etihad Atheeb Telecommunication Co. (GO Telecom) announces the Conclusion of the Acquisition of a 51% share of the capital in EJAD TECH Co.

Element List	Explanation
Introduction	Etihad Atheeb Telecommunications Company (GO Telecom) announces that the procedures for acquiring a 51% stake in EJAD TECH have been completed.
Acquisition Procedures Conclusion Date	2025-06-22 Corresponding to 1446-12-26
Summary of Acquisition / Purchase	The acquisition deal in which Etihad Atheeb Telecommunication Company (GO Telecom) acquired a 51% stake in Ejad Tech for Information Technology represents one of the main pillars of GO Telecom’s new strategy. This strategy aims to expand the company’s business base through acquisitions and capitalize on growth opportunities by entering new sectors in alignment with the company’s vision and objectives. It also enhances the added value for shareholders.

Ejad Tech, a leading provider of IT services and digital transformation consulting, is recognized as one of the top Saudi companies in its field and among the top five companies in the Middle East for localizing and developing digital transformation solutions according to international standards.

Ejad Tech strives to provide integrated digital solutions to its clients that achieve organizational excellence by keeping pace with the latest trends, studying best practices, and applying them to meet requirements and enhance customer satisfaction. The company also provides effective tools to ensure the governance of development and operational processes for digital transformation projects, thereby supporting the achievement of the institutional vision. Related Parties No related parties Financial Impact The financial impact of the acquisition began in the third quarter, ending December 31, 2024. Ownership and Legal Documents Transfer Conclusion Date The acquisition procedures, transfer of ownership, and all regulatory documents were completed on Sunday, 22-06-2025. Additional Information The acquisition was completed for SAR 86.7 million, paid through the company's resources.

Payment Terms: It was agreed that an amount of SAR 40 million would be paid upon signing and closing the deal. The remaining amount of the total value, SAR 46.7 million, will be paid in two installments based on the achievement of mutually agreed-upon targets between both parties as follows:

1. An amount of SAR 23.7 million will be paid by the end of 2025.

2. An amount of SAR 23 million will be paid by the end of 2026.

The amount of SAR 40 million was paid on [27-03-2025] following the approval of the esteemed shareholders of Etihad Atheeb Telecommunication Company (GO Telecom) during the General Assembly, and after signing the acquisition agreement with Ejad Tech for Information Technology on 11-12-2024.

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