Arabian Internet and Communications Services Company to acquire an 89.5% stake in Giza Systems for $158m .

Arabian Internet and Communications Services Company, an information and communications technology operating company, agreed to acquire an 89.5% stake in Giza Systems, a systems integrating company, for $158m. Financial terms were not disclosed. “Over the years, Giza Systems exceptional teams have been able to deliver unmatched services, which have earned us the privileged trust of our clients as we understand their challenges and work towards adding value to their organizations. With solutions support, we will be able to leverage resources, grow teams, and gain more access to KSA market for the acceleration of our growth, while remaining independent in terms of our management and organizational structure,” Osama Sorour, Giza Systems CEO.