iSon Technologies acquires ENOC's GTS
Deal will see systems integrator expand its footprint across the GCC
iSon Technologies, an IT services company, has acquired Global Technology Services (GTS), a wholly owned subsidiary of Emirates National Oil Company (ENOC), for an undisclosed sum.
The acquisition, which allows iSon to expand its services and client portfolio in the UAE and wider Middle East, was completed with co-investor Dhabi One Investment Services. The acquisition will also give GTS access to other sectors, such as telecoms, aviation, media and entertainment, as well as allow it to expand across the Africa and APAC regions, where iSon is particularly strong.
GTS is currently a third-party IT services provider for ENOC. Both companies said that this arrangement will not change with the acquisition.
iSon added that the acquisition will also enable it to provide significant operational and cost efficiencies along with a better service to ENOC and iSON's other partners in the UAE and GCC. The acquisition significantly reduces ENOC's capital expenditure on IT infrastructure and provides a more consistent operational expenditure whilst benefitting from improving IT services.
"iSON's core business is IT Services including mobile, in the Middle East and Africa, and this therefore is a solid, value enhancing match for GTS. With GTS's third-party business and the services provided to ENOC Group, ISON strengthens its capabilities to expand their service and client portfolio in the UAE and GCC," said Sina Khoory, executive director, Shared Services, ENOC.
"ENOC and its operating business units will continue as a core customer of GTS, based on the existing service level agreement between ENOC and GTS, so there will be no immediate changes to our IT services."
Ramesh Awtaney, founder and chairman of iSon, added: "iSon's leadership has very good experience working with Fortune 50 IT companies and has built exceptional customer trust in Africa and APAC regions specifically. The acquisition of GTS will give us a great edge over competitors in existing and new geographies."