Equiteq is pleased to have advised leading managed cloud provider BIOS Middle East on its sale to ZainTech, the one-stop digital and ICT solutions powerhouse of Zain Group.
BIOS Middle East is a regional managed secure cloud provider with a presence in the United Arab Emirates, Saudi Arabia and Oman. Since its establishment in 2002, BIOS has served over 300 global and regional customers by offering managed services and cloud solutions with 24x7x365 support and a measurable SLA. CloudHPT, Amazon Web Services, Microsoft Azure, managed multi-cloud access, security as a service, infrastructure as a service, and disaster recovery as a service are just a few of the capabilities provided by over 140 BIOS professionals across the region.
The acquisition, subject to regulatory approvals, will result in the full migration and integration of BIOS Middle East’s operations within ZainTech over the next 12-18 months.
Commenting on the agreement, Bader Al Kharafi, Zain Vice-Chairman and Group CEO said, “This deal represents a major step in ZainTech’s expansion strategy and our determination to transform Zain into a leading ICT and digital lifestyle provider. ZainTech is key part of Zain's value accretive '4Sight' strategy centered on evolving Zain's core telecom business to maximize value and build on the company's many strengths to selectively invest in growth verticals beyond standard mobile services.”
Dominic Docherty, BIOS Middle East Managing Director, said, “BIOS shares with ZainTech the goal to become the region’s leading multi-cloud managed service provider. This deal will allow us to accelerate and scale towards that goal, with further benefits to both our customers and people. I am excited and energized to become part of the ZainTech team.”
Regarding Equiteq’s role in the transaction, Dominic Docherty, Founder of BIOS Middle East said, “We are grateful that we found in Equiteq a seamless extension to our team, providing straight-talking advice combined with hard-working and technically strong process execution support to deliver the right transaction for the future of BIOS.”
Jerome Glynn-Smith, Managing Director at Equiteq further adds, “We are very pleased for Dominic and the team that the great business they have built will now benefit from the strong support of a major regional leader such as ZainTech. This transaction reflects the increasing value telecom operators will deliver for their clients, through acquisitions enabling them to deliver the best technology & cloud solutions – this is a trend we are seeing globally with the most innovative telecom operators.”