STME revitalised by sale to investment firm
Injection of funds will allow company to build out enterprise offering, says deputy CEO
STME's recent sale to Saudi investment house MIC is set to herald its transition to a more rounded IT infrastructure provider, according to a member of the company's senior management team.
Although STME's roots lie in the storage arena, deputy CEO Jocelyn Al Adwani says the company's new owners have sanctioned plans to expand its market offering, particularly in terms of professional services and enterprise solutions.
And she insists their financial backing gives STME a strong foundation to move forwards.
"It is going to give us the strength and the ability to grow in a much more stable manner because they have invested quite a lot of funds and they have a good vision," she explained. "We are enhancing the product portfolio and ultimately we will grow across geographies as well."
"The plan is to grow into more of a full infrastructure provider so we will focus on our strengths for this year and then start to build out by bringing in network and security," she revealed.
MIC announced the takeover of STME earlier this month after buying the company from its founder and chairman Peter Aubrey. The Kuwait-based business initially started out as the Middle East subsidiary of StorageTek back in 1982 before becoming an independent company five years later.
MIC has installed Salah Abu Shaar as STME's CEO and he will pull the strings from Saudi Arabia, which remains the integrator's largest market.
More accountability also rests with the company's territory managers following a recent internal reorganisation.
"What we have done is restructured the company into regions with their own P&Ls," explained Al Adwani. "Saudi Arabia is a region on its own, as are all of the Gulf countries. Egypt and Jordan is another region and the fourth one is Pakistan. This gives the area managers the ability to run their region like their own business, but also to be accountable for everything as well. On a functional level they still report to the sales director and the support services director."
With the global recession knocking the enterprise IT market off its feet, Al Adwani admits that STME laid off a number of staff last year to get things "under control". She says, however, that the company has begun hiring again. It is thought that the company currently employs close to 100 people in the region.