Saudi Telecom (STC) has announced it will buy another 20% stake in digital content provider Intigral in a deal worth SR90m (US$24m), taking its total share in the UAE-based company to 71%.
STC said the decision to acquire the shares from Saudi …
Saudi Telecom (STC) has announced it will buy another 20% stake in digital content provider Intigral in a deal worth SR90m (US$24m), taking its total share in the UAE-based company to 71%.
STC said the decision to acquire the shares from Saudi Research & Marketing Group is in line with its strategy to focus on content services popular with its customers and will be financed using its own resources.
Intigral was established in 2009 as a joint venture between STC, SRMG and Malaysia’s All Asia Networks (Astro). According to STC, Intigral works with more than 400 content providers in the Arab world and 20 further providers internationally.
In October, STC told Reuters it was actively searching for acquisition opportunities in the Middle East, describing 2012 as “a year of potential acquisitions”.
