SIV acquires Sahara Net
European investment vehicle continues its expansion in MENA ISP space with latest deal
European investment firm Sahara International Ventures (SIV) has acquired a majority stake in Saudi Arabian ISP, Sahara Net, for an undisclosed sum.
Sahara Net, which was founded by entrepreneurs Haitham Abu-Aisha and Kais Al-Essa in 1989, is one of the leading players in Saudi Arabia's corporate ISP market.
The company has branches in Riyadh, Jeddah, Dammam, Jubail, Yanbu and Abha, and offers services including Internet leased lines, VPN, MPLS, managed services and Web hosting.
Sahara International Ventures is a joint venture between Belgium's incumbent telecom operator Belgacom NV/SA, and Panthers Investments BV, an investment company that specialises in acquiring small broadband assets in developing countries.
"SIV's investment in Sahara Net comes in line with the current strategy to expand in growing markets within the MENA region and further support and improve the existing operations," the company said in a statement.