- solutions completed its acquisition of 100% of ccc, the Kingdom’s leading business process outsourcing company, with an enterprise value of SAR 450 million.
- The acquisition marks a key milestone in solutions’ growth strategy to expand its business process outsourcing offering and deliver end-to-end services to its customers
Riyadh, April 3, 2023 – solutions by stc, the leading enabler of digital transformation in the region, has announced the successful completion of the acquisition of 100% of the Contact Center Company (ccc), the business process outsourcing (BPO) market leader in Saudi Arabia, with an enterprise value of SAR 450 million.
This strategic milestone aims to reinforce solutions’ leadership in the ICT sector in line with its ambitious growth strategy, and contribute towards expanding its business process outsourcing offerings, as the BPO market is expected to grow by 13.9% during the period between 2021 and 2026 according to IDC estimates.
Eng. Omer Abdullah Alnomany, solutions’ CEO, said: ”We are committed to achieving further growth and expansion, with this acquisition representing an important milestone in our ambitious growth strategy. By acquiring ccc, we are expanding our BPO offering and providing our customers with end-to-end services, while creating value for our shareholders.”
Eng. Mansour Aldalaan, CEO of ccc, added: ”We share a common vision with solutions to grow and expand in the business process outsourcing sector. This step will enable us to enhance our service offerings and to maintain our leadership in the market.”
ccc is a renowned BPO and customer experience company which started as a joint venture between stc, publicly listed on Tadawul, and ESM Holdings, owned by the global company StarTek (NYSE: SRT), to enable its customers to strategically transform their businesses through global standards and local talent.
This milestone marks solutions’ second corporate acquisition following the successful acquisition of Giza Systems last year. Since inception, solutions has been at the forefront of enabling digital transformation for the public and private sectors, as the primary provider of IT solutions in Saudi Arabia and the region, in line with Saudi Arabia’s Vision 2030 to enable digital transformation in the Kingdom.