Arabian Internet and Communications Services Co. Ltd. (SASE:7202) signed a binding offer to acquire 89.49% stake in Giza Systems from Inergia Technologies For Information Systems and others on April 4, 2022. Transaction is subject to a number of pre-closing conditions, including but not limited to obtaining the approval from the relevant authorities such as the approval of General Authority for Competition, as well as other regulatory and commercial conditions. Transaction is expected to close in the third quarter of 2022

Arabian Internet and Communications Services Co. Ltd. (SASE:7202) acquired 88.19% stake in Giza Systems from Inergia Technologies For Information Systems and others on October 4, 2022.