The managed cloud provider Bios Middle East, with operations in the UAE, Saudi Arabia, and Oman, has agreed to be entirely acquired by ZainTech, the digital and ICT services division of Kuwait-based telecom operator Zain Group. According to a statement released by Zain on Sunday, the acquisition will result in the complete integration of Bios Middle East’s operations into ZainTech over the following 12 to 18 months, pending regulatory approvals.
It did not provide financial details of the deal.
“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,” Bader Al Kharafi, Zain vice chairman and group chief executive, said.
“ZainTech is key part of Zain’s value accretive ‘4Sight’ strategy centered on evolving Zain’s core telecom business to maximise value and build on the company’s many strengths to selectively invest in growth verticals beyond standard mobile services.”
ZainTech is focused on organic growth and acquisitions of value-adding companies as it seeks to become a tech partner to companies and governments in the region, said Andrew Hanna, ZainTech’s chief executive.
“Managed cloud is a highly relevant and critical business area for our region, and with Bios’ established strong customer base, years of experience, and exceptional team, this strategic acquisition will supercharge our capabilities in hybrid and multi-cloud managed services and expand our offerings,” he said.
Since launching operations in 2002, Bios has served more than 300 global and regional customers by offering managed services and cloud solutions.
Amazon Web Services, Microsoft Azure, managed multi-cloud access, security as a service, infrastructure as a service, and disaster recovery services are among the capabilities provided by more than 140 Bios employees across the region, according to the statement.
“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,” Dominic Docherty, Bios Middle East’s managing director, said.
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