Clyde & Co Acted in STS Acquisition by ZainTECH
Clyde & Co Acted in STS Acquisition by ZainTECH
Clyde & Co is advising the shareholders of Specialized Technical Services Company (STS) on its complete sale to ZainTECH. This transaction is subject to regulatory approvals.
STS, a key player in the digital transformation arena spanning Jordan, Saudi Arabia, the UAE, Bahrain, and Iraq, has been in operation since its inception in 1989. Boasting a team of more than 350 professionals, STS has forged enduring alliances with top industry giants such as Cisco Systems, Dell Technologies, IBM, Microsoft, Oracle, and numerous others. The company's services cater to a broad spectrum of over 500 clients in sectors ranging from banking, government, healthcare, and education, to telecommunications, covering the Middle East and North Africa.
Launched in October 2021, ZainTECH stands as the digital and ICT powerhouse within the Zain Group. It focuses on driving the transformation and enhancing the capabilities of enterprise and government customers by embracing and implementing cutting-edge technologies.
Clyde & Co is acting as lead external counsel to the shareholders of STS. The team is led by partner and head of corporate – Middle East, Naji Hawayek (corporate), and senior associate Afraz Hussain (corporate) who are supported by partners Ray Smith (tax) and Malcolm Frost (tax), and associate Sara Magdy (corporate).
Clyde & Co is serving as the primary external legal counsel for the shareholders of STS. Heading the team are Naji Hawayek, partner and head of corporate for the Middle East, along with senior associate Afraz Hussain, both specialising in corporate law. They receive support from partners Ray Smith and Malcolm Frost, experts in tax law, and associate Sara Magdy, who focus on corporate matters.
