GO sees several potential acquisitions in digital transformation: CEO

Yehia Al Mansour, CEO of Etihad Atheeb Telecommunication Co. (GO)

Etihad Atheeb Telecommunication Co. (GO) sees several acquisition opportunities in the digital transformation sector, CEO Yehia Al Mansour, noting that any related developments will be announced duly.

In an interview with Argaam, the top executive indicated that the financial impact of acquiring eJad Tech Co. will be “very positive,” as per the company and financial advisor’s views.

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He added that the related financial impact will be declared in the financial results for Q3 2024.

This acquisition will be funded through GO’s internal resources and cash flow, said the CEO, adding that the move stems from the company’s solid strategy that drew a clear growth path and boosted revenues and profitability.

The company signed on Sept. 14 a binding memorandum of understanding (MoU) to acquire a 51% equity stake in eJad Tech for SAR 86.7 million, data available to Argaam showed.