TAWAL
stc Group, an engine of digital transformation in the MENA region, announces today that its ICT infrastructure subsidiary, TAWAL, has signed an agreement to acquire United Group’s telecommunications tower assets.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230420005678/en/
stc Group Logo (AETOSWire)
The agreement, valued at EUR 1.220 bn supports stc Group’s ambitious strategy to expand its international footprint in key markets with significant growth potential.
Marking TAWAL’s first step in Europe, this move represents a major milestone in its international expansion journey and stc Group’s growth ambitions which have been active growing in the ICT adjacencies including recent investments in ICT, IoT, Cloud, Cybersecurity, Fintech and digital entertainment through its subsidiaries.
Following completion of the acquisition, TAWAL will own and operate more than 4,800 sites across Bulgaria, Croatia, and Slovenia (all European Union member states, two of which are already members of the Eurozone), providing the full range of passive infrastructure services ranging from ground-based towers, rooftops small cells to in-building-solutions. As part of the 20-year master services agreement with United Group, TAWAL will deploy over 2,000 additional sharable sites, while co-location relationships with other mobile network operators will be maintained and expanded, enabling stc Group to drive digital transformation through providing world-class connectivity.
Olayan Alwetaid, Chief Executive Officer, stc Group, said: “Our agreement with United Group represents an exciting new chapter for TAWAL and the wider stc Group. The agreement is a significant milestone in our ambitious growth strategy and the expansion of our international footprint. We are already leading the transformation of Saudi Arabia’s digital capabilities and this transaction reinforces our commitment to investing in best-in-class technology and infrastructure to lead the way in enabling the world to connect.”
Mohammed Alhakbani, Chief Executive Officer, TAWAL, said: “We are delighted to partner with United Group in our first investment in the European market. The partnership supports our goal to continue to provide innovative and efficient ICT infrastructure solutions to our partners and deliver the quality of services we are renowned for.”
The transaction is subject to regulatory approval from the relevant authorities in Bulgaria and Slovenia. Upon completion, TAWAL’s operations in the European market will be rebranded as “TAWAL Europe” and will serve as TAWAL’s platform for any future expansion in Europe.
TAWAL currently owns a portfolio of over 16,000 telecom towers. The company is actively supporting digital transformation plans in Saudi Arabia, expanding its reach across new cities and rural areas in the Kingdom and actively rolling out smart-city-ready technologies such as camouflage telecom towers, smart poles capable of hosting 5G and IoT applications, in-building solutions, and small cells.
*Source: AETOSWire
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230420005678/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Andersen Consulting forbedrer sine organisatoriske udviklingskapaciteter med Omni HR Consulting1.8.2025 19:22:00 CEST | Pressemeddelelse
Andersen Consulting udvider sine kompetencer inden for menneskelige ressourcer gennem en samarbejdsaftale med Omni HR Consulting, et sydafrikansk konsulentfirma med speciale i løsninger til forretnings- og personaleudvikling. Omni HR Consulting tilbyder en komplet pakke af tjenester, der omfatter organisationsudvikling, præstationsrådgivning, akkrediteret uddannelse, kompetenceudvikling og ledelsesprogrammer gennem sit Business and Leadership Academy. Virksomheden samarbejder med kunderne om at designe og implementere løsninger, der retter sig mod medarbejdernes kompetencer, optimering af resultater og strategisk tilpasning og understøttes af en konsekvent tilgang til projektledelse og overholdelse af sydafrikanske kvalitetsstandarder. "Hos Omni tror vi på, at effektiv udvikling starter med forståelse af konteksten," siger administrerende direktør Lize Moldenhauer. "Vi arbejder tæt sammen med vores kunder for at udvikle skræddersyede løsninger, der skaber målbare fremskridt – hvad ente
DevvStream Deploys Crypto Treasury with Initial Bitcoin and Solana Purchases; Intends to Expand Credit Facility to $300M1.8.2025 16:00:00 CEST | Press release
DevvStream Corp. (Nasdaq: DEVS) (“DevvStream” or the “Company”), a leading carbon management firm specializing in the development, investment, and sale of environmental assets, today announced the initial deployment of its crypto treasury strategy with purchases of Bitcoin ($BTC) and Solana ($SOL), funded by a portion of the first (US)$10 million tranche of its (US)$300 million senior secured convertible notes facility with Helena Global Investment Opportunities 1 Ltd. These acquisitions represent the operational launch of DevvStream’s digital treasury strategy, designed to combine institutional-grade liquidity with blockchain infrastructure. The Company believes Bitcoin provides a liquid, non-correlated store of value and that Solana’s high-throughput network supports the Company’s long-term objectives in, and the industry’s move towards, sustainability-linked tokenization. In parallel, DevvStream announced its intention to increase its existing Equity Line of Credit (ELOC) to (US)$30
BEYOND Launches PASSO, a Sculptural Icon on Palm Jumeirah1.8.2025 15:17:00 CEST | Press release
BEYOND Developments, the forward-thinking real estate brand shaping lifestyle destinations by the sea, has unveiled PASSO, a sculptural waterfront development located on the prestigious West Crescent of Palm Jumeirah. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250801880717/en/ PASSO by BEYOND, a Sculptural Icon on Palm Jumeirah. (Photo: AETOSWire) As BEYOND’s first flagship beyond its masterplan in Dubai Maritime City, PASSO marks a defining milestone in the company’s strategic growth to one of the world’s most iconic and desirable destinations. The project launched with a spectacular Palm Jumeirah event featuring Dubai’s first-ever “screens in the sky” show, a 13-minute performance with over 4,000 drones blending immersive visuals and live stage action. Comprising two sculptural towers, Avita and Bella, PASSO offers 625 residences in a refined mix of layouts. From one-bedroom retreats and two-to-four-bedroom-plus lifest
LevelBlue Completes Acquisition of Aon’s Cybersecurity and IP Litigation Consulting Groups1.8.2025 14:00:00 CEST | Press release
Strategic deal enhances LevelBlue's cybersecurity offerings, solidifying its position as the world’s largest leading independent, pure-play MSSP LevelBlue, a global leader in cloud-based, AI-driven managed security services, today announced the completion of its acquisition of Aon’s (NYSE: AON) Cybersecurity and Intellectual Property (IP) Litigation consulting groups, including the renowned cybersecurity firm, Stroz Friedberg, and Elysium Digital. With this completion the consulting group will operate as Stroz Friedberg, a LevelBlue company. This strategic acquisition adds elite cyber and high-tech IP litigation consulting expertise to the LevelBlue portfolio, which includes a globally recognized platform of approximately 300 technology professionals with deep relationships across Fortune 500 companies, 80 percent of the Am Law 100, and most of the UK’s top 20 law firms. As a result, LevelBlue will significantly fortify its incident response and advisory capabilities, while expanding i
SBC Medical to Announce Q2 2025 Financial Results and Hold Conference Call on August 13, 20251.8.2025 14:00:00 CEST | Press release
SBC Medical Group Holdings Incorporated (Nasdaq: SBC) (“SBC Medical” or the “Company”), a global franchise and provider of services for aesthetic clinics, today announced that it will report its Q2 2025 financial results on Wednesday, August 13, 2025, before the U.S. market opens. The Company will hold a conference call on Wednesday, August 13, 2025 at 8:30 am Eastern Time (or Wednesday, August 13, 2025 at 9:30 pm Japan Time) to discuss the financial results and take questions live. Please register in advance of the conference using the link provided below. https://edge.media-server.com/mmc/p/ukc9sp9j It will automatically direct you to the registration page of “SBC Q2 2025 Financial Results Presentation.” Please follow the steps to enter your registration details, then click “Submit.” Upon registration, you will be able to access the dedicated Conference Call viewing site. In addition to viewing the conference call, this site provides access to information about the speakers as well a
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom