Riyadh - Mubasher: Etihad Atheeb Telecommunication Company (GO) signed a binding memorandum of understanding (MoU) to acquire a 51% share of the capital in EjadTech.
Go inked the acquisition deal on 11 December 2024 with a total value of SAR 86.70 million, according to a bourse disclosure.
The ordinary general assembly meeting (OGM) passed the transaction, which is expected to impact the company’s financials during the third quarter (Q3) ending on 31 December 2024.
In the six-month period that ended on 30 September 2024, the company’s net profits increased by 4.81% to SAR 105.33 million from SAR 100.49 million a year earlier.
