Logo ofEtihad Atheeb Telecommunication Co. (GO)
the company said the payment will be made through its internal resources. It explained that the payment terms include an upfront amount of SAR 40 million to be paid upon signing and closing the deal, while the remaining SAR 46.7 million will be paid on two installments, with SAR 23.7 million due by the end of 2025 and SAR 23 million to be paid by the end of 2026, contingent on the achievement of performance targets agreed upon by both parties. 
The company pointed out that the SAR 40 million payment was made on March 27, following the approval of the acquisition by GO’s shareholders during the general meeting and the signing of the acquisition agreement with eJad Tech on Dec. 11, 2024.
GO noted that the financial impact of the acquisition began in Q3 ending Dec. 31, 2024, adding that the acquisition procedures, ownership transfer, and all regulatory documentation were finalized on June 22.
The acquisition is considered a key pillar of GO’s new strategic direction, which aims to expand the company’s business footprint through acquisitions and capitalize on growth opportunities by entering new sectors, in line with its long-term vision and objectives. The deal is also expected to enhance shareholder value.
eJad Tech is recognized as one of the top Saudi companies in the field of IT services and digital transformation consulting. It ranks among the top five companies in the Middle East in localizing and developing digital transformation solutions in accordance with international standards.
The company offers integrated digital solutions designed to achieve institutional excellence by aligning with the latest trends, studying best practices, and applying them to meet client needs and enhance satisfaction. eJad also provides effective tools for governing the development and operation of digital transformation projects, in support of organizational vision and goals.
The telecom operator, in September, signed a memorandum of understanding (MoU) to buy a stake of 51% in eJad Tech, data compiled with Argaam showed.
Logo ofEtihad Atheeb Telecommunication Co. (GO)
the company said the payment will be made through its internal resources. It explained that the payment terms include an upfront amount of SAR 40 million to be paid upon signing and closing the deal, while the remaining SAR 46.7 million will be paid on two installments, with SAR 23.7 million due by the end of 2025 and SAR 23 million to be paid by the end of 2026, contingent on the achievement of performance targets agreed upon by both parties.
The company pointed out that the SAR 40 million payment was made on March 27, following the approval of the acquisition by GO’s shareholders during the general meeting and the signing of the acquisition agreement with eJad Tech on Dec. 11, 2024.
GO noted that the financial impact of the acquisition began in Q3 ending Dec. 31, 2024, adding that the acquisition procedures, ownership transfer, and all regulatory documentation were finalized on June 22.
The acquisition is considered a key pillar of GO’s new strategic direction, which aims to expand the company’s business footprint through acquisitions and capitalize on growth opportunities by entering new sectors, in line with its long-term vision and objectives. The deal is also expected to enhance shareholder value.
eJad Tech is recognized as one of the top Saudi companies in the field of IT services and digital transformation consulting. It ranks among the top five companies in the Middle East in localizing and developing digital transformation solutions in accordance with international standards.
The company offers integrated digital solutions designed to achieve institutional excellence by aligning with the latest trends, studying best practices, and applying them to meet client needs and enhance satisfaction. eJad also provides effective tools for governing the development and operation of digital transformation projects, in support of organizational vision and goals.
The telecom operator, in September, signed a memorandum of understanding (MoU) to buy a stake of 51% in eJad Tech, data compiled with Argaam showed.
