Dec 27 2010
|more articles from|
Masharie divests 50% stake in Syscom to Inteltec Emirates LLC
Move will allow UAE's leading private equity firm to deploy further capital and pursue growth opportunities in the region more aggressively
Dubai - December 27, 2010:- Masharie , the private equity arm of Dubai Investments PJSC, announced recently that it has divested 50% of its shareholding in Syscom Emirates , a telecommunication system integrator in the Middle East, to Inteltec Emirates LLC - a subsidiary of Riyadh-based telecommunications solutions provider Saudi Inteltec .
"The divestment is part of our strategy of creating value through the introduction of joint venture partners into our assets regionally," said Abdulaziz Bin Yagoob Al Serkal, CEO of Masharie . "The move will enable us to pursue growth opportunities in the region more aggressively."
" Inteltec has built a reputation as a leading player in the ICT (Information and Communication Technologies) and Telecom domain in the Gulf region. Their expertise across telecom project lifecycles, combined with their strong industry connections, will contribute significant value to Syscom ," Al Serkal added.
Established in 1995, Saudi Inteltec provides its customers with professional turnkey services and solutions in various ICT domains. The company operates in the region through its many subsidiaries - which include Skyband, Skyhost, Digico, Saudi Coromo, Skypos, iPay and Inteltec Emirates.
Headline Public Relations
Tel: 9714 - 2289655 Ext: 348
Fax: 9714 - 2282125
© Press Release 2010
© Copyright Zawya. All Rights Reserved.