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STC Solutions Announces Binding Offer to Acquire Giza Systems Co.

STC announced a binding offer to acquire 89.49% of Giza Systems Co. from Inergia Technologies for Information Systems. (Asharq Al-Awsat)
STC announced a binding offer to acquire 89.49% of Giza Systems Co. from Inergia Technologies for Information Systems. (Asharq Al-Awsat)
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STC Solutions Announces Binding Offer to Acquire Giza Systems Co.

STC announced a binding offer to acquire 89.49% of Giza Systems Co. from Inergia Technologies for Information Systems. (Asharq Al-Awsat)
STC announced a binding offer to acquire 89.49% of Giza Systems Co. from Inergia Technologies for Information Systems. (Asharq Al-Awsat)

Saudi Arabian Internet and Communications Services Co. (solutions by STC) announced a binding offer to acquire 89.49% of Giza Systems Co. from Inergia Technologies for Information Systems, in addition to 34% of Giza Arabia, a subsidiary of Giza Systems.

In a statement to Tadawul, solutions said the transaction will be based on an enterprise value of $158 million, to be paid in cash.

Solutions said the acquisition is part of STC’s expansion plans and solutions’ strategic plans to lead digital transformation in Saudi Arabia.

It represents a strategic step in line with solutions’ international expansion strategy and an opportunity to enhance the Kingdom’s position and its information and communication technology (ICT) sector.

Digital transformation in the Kingdom has been witnessing a strong qualitative leaps, in light of Vision 2030, which places digitalization as one of its key pillars.

Solutions plays a leading role in enabling digital transformation and contributing to the Kingdom’s digital future by providing innovative and integrated digital solutions, being STC’s technology arm.

It is a leading IT service provider in the Kingdom’s business sector. It started operations over two decades ago and provided digital solutions for the public and private sectors. It has a strong experience through partnerships with more than 150 global and local partners.

The statement said Giza Systems is an information technology leading systems integrator that provides many technical solutions.

It has a track record of more than 40 years and has developed to become a regional power, digital transformation enabler and a leader in systems integration in the Middle East and North Africa region.

Giza Systems has offices in Saudi Arabia, the United Arab Emirates, Qatar and the United States, which allows it to provide its services to an ever-increasing client base in over 25 countries.

CEO of solutions Omar al-Noamani said the acquisition reflects the company’s intention to enhance its position in global markets, such as the UAE, Egypt and Qatar, and to enter new markets and expand business lines to meet the evolving needs of its customers and investor expectations.

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Saudi Arabia Boosts Appeal as Foreign Investment Inflows Surge 44%

The Saudi capital, Riyadh (SPA) 
The Saudi capital, Riyadh (SPA) 
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Saudi Arabia Boosts Appeal as Foreign Investment Inflows Surge 44%

The Saudi capital, Riyadh (SPA) 
The Saudi capital, Riyadh (SPA) 

Saudi Arabia is advancing rapidly toward its Vision 2030 goals, recording a notable surge in foreign direct investment (FDI) during the first quarter of this year. Inflows rose 44% year-on-year to SAR 22.2 billion ($6 billion), up from SAR 15.5 billion ($4 billion) in the same period of 2024. The growth comes amid government efforts to attract investors and position the Kingdom as a global economic hub.

Attracting more FDI is central to Vision 2030, which seeks to diversify the economy beyond oil, stimulate private sector growth, and create jobs. Saudi Arabia aims to draw $100 billion in FDI by 2030, expand spending on “giga-projects,” and develop sectors including tourism, sports, and entertainment.

According to data from the General Authority for Statistics, total inbound FDI reached about SAR 24 billion ($6.4 billion) in the first quarter of 2025, marking a 24% increase compared to the same quarter in 2024. However, it dipped 6% from the previous quarter’s SAR 25.6 billion ($6.8 billion).

Outbound FDI dropped sharply, totaling SAR 1.8 billion ($480 million) in Q1 2025, a 54% decrease from SAR 3.9 billion ($1 billion) in the prior-year period. Compared to the previous quarter, outbound flows rose slightly by 7%.

Since 2021, Riyadh has required international companies seeking government contracts to establish regional headquarters in the Kingdom. Authorities have also pledged to modernize investment regulations to improve the business environment.

According to the Vision 2030 annual report, FDI as a share of GDP hit its 2023 target, with inflows reaching SAR 96 billion ($25.6 billion), up 50% from 2022 (excluding the exceptional Aramco transaction). However, the indicator declined by 1.31 percentage points between 2021 and 2023 due to weaker net inflows in 2021 and 2022 as global investors faced liquidity pressures from rising interest rates.

Despite this, data shows steady progress toward sustainable growth. FDI is becoming more diverse, spreading across industries and regions rather than concentrating solely in oil or the eastern provinces. This trend reflects greater investor confidence and supports efforts to attract long-term capital.

In 2023, Saudi Arabia adopted a new methodology for calculating FDI statistics in collaboration with the International Monetary Fund to improve data quality and transparency. As a result, historical figures were updated, with 2020 set as the reference baseline.