Atlas Investment Group Acts as ZEINE's Sole Financial Advisor
On May 20, 2002, Microsoft Corporation (.Microsoft.) announced its investment in Estarta Solutions, a leading software development company in the Middle East and North Africa (.MENA.). Estarta Solutions was the result of the business combination of two major Jordanian software companies: Zeine Technological Applications (.ZEINE.) and ONEWORLD Computer Programming (.ONEWORLD.). While maintaining its ongoing business in American and other developed countries. IT markets, Estarta Solutions will focus its operations on the MENA Information Technology (.IT.) services market.
Microsoft co-invested in Estarta Solutions with Foursan Group, a leading venture capital player in the MENA region that focuses on the IT sector. By investing in Estarta Solutions, Microsoft will strengthen its presence and business development capabilities in the MENA region. Microsoft.s investment will improve Estarta Solutions. positioning in terms of branding, deal flow, financing, and breadth of services. ZEINE and ONEWORLD.s unity, coupled with Microsoft.s investment, brand name, and technology, will place Estarta Solutions as the leading IT company in the MENA region.
Zeine (www.zeine.com) was established in 1991 with the goal of becoming the best software development and knowledge management provider in the MENA region, while simultaneously serving other markets globally. Zeine has created a state of the art software technology and implementation methodology. The company currently operates three independent business lines: Software Services (SS), Knowledge Management (KM), and Macintosh Applications (MA).
ONEWORLD (www.oneworldsoftware.com) was founded in 1997 by a number of MIT alumni and is revolutionizing the Software Services industry by developing scalable and reliable products for Internet software companies and other clients.
Atlas Investment Group (.Atlas.) acted as the sole financial advisor to ZEINE on the business combination with ONEWORLD and on Microsoft.s investment in the new entity. Atlas (www.atlasinvest.net) is a leading regional investment banking firm, headquartered in Amman, Jordan. It is the first and largest investment banking firm in Jordan, offering integrated investment banking services, including corporate finance, asset management, brokerage and research.
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For Further information please contact:
Mr. Husam Kutaifan
Head of Corporate Finance
Atlas Investment Group (Atlas)
P.O. Box 143156
Amman 11814, Jordan
Tel + (962-6) 552 2239
Fax + (962-6) 551 9064
E-mail: hkutaifan@atlasinvest.net
© Press Release 2006
