Deal Announcement: Lumina Capital Advisers advises the shareholders of STS on its acquisition by ZainTECH

Lumina acts as lead financial adviser to the shareholders of Specialised Technical Services (STS), one of the largest digital transformation solutions providers in the Middle East region, on the Company’s acquisition by ZainTECH, the integrated digital solution provider of Zain Group.

This is a landmark regional transaction, given the rapid growth in the global digital transformation market, enabling Zain to expand its service offerings to enterprises and government bodies, to gain access to top talent and to enhance its competitive position across the Middle East.

STS has been operating, from its base in Amman, Jordan, since 1989 and has subsequently expanded across Saudi Arabia, the United Arab Emirates, Bahrain, and Iraq. As a pioneer player in the industry, STS’s name has been synonymous with its innovative, tech-savvy delivery for its vast range of blue-chip clients. The company delivers advanced hybrid multi-cloud solutions, robust managed cloud services, and comprehensive cybersecurity offerings, backed up by a state-of-the-art security operations center (STS SOC), infrastructure and system integration capabilities, along with licensing solutions.

With a team of over 350 professionals, STS has built long-standing partnerships with industry leaders such as Cisco Systems, Dell Technologies, IBM, Microsoft, Oracle, among others. STS serves over 500 customers across industries, including banking and financial, governmental, health, education, and telecommunications sectors across the Middle East and North Africa.

Ramzi Zeine, Co-Founder and Executive Chairman of STS said: "This is a highly exciting, strategic development in the history of STS and we are extremely proud to join forces with ZainTECH. Thank you to the Lumina Capital Advisers team for advising the STS team on this transaction. Their attention to detail, direct advice at critical points during the deal and ability to engage and communicate effectively with the multiple sets of stakeholders helped steer us through the transaction and contributed to the successful outcome.”

Andrew Nichol, Partner, Lumin Capital Advisers said “We are delighted with the successful outcome of this deal and look forward to seeing STS thrive in its next chapter and as it continues to go from strength to strength alongside ZainTECH. This deals reflects the importance of cross-border transactions, allowing corporates to leverage skills and talent from across the region, as firms seek to resolve increasingly complex problems for their clients. The STS team were a pleasure to work with and we wish both STS and ZainTECH all the very best as they integrate and grow.”

This transaction is subject to regulatory approvals.

Press release here: https://zain.com/en/press/zaintech_sts