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|| Saudi Investment house acquired enterprise IT firm STME

MIC-STME.jpgMiddle East Investment Co (MIC), a Saudi investment house, has acquired STME, an enterprise IT solutions integrator in the Middle East.

Founded in 1982, STME provides IT solutions that manage and protect business-critical IT assets in organizations ranging from SMEs to multinational corporations. Some of its partners include NetApp, Symantec and Hitachi Data Systems. The company has integrated solutions to its portfolio of over 400 enterprise customers. It has a presence throughout the Gulf region, Egypt, Levant and Pakistan.

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More details from their release follows

MIC, a leading Saudi investment house in EMEA region, has acquired STME, one of the foremost enterprise IT solutions integrators in the Middle East. As part of the acquisition process, STME has also appointed Salah Abu Shaar as the new CEO who will lead the operations of the company.

Using proven best-of-breed technologies, STME will provide IT solutions that manage and protect business-critical IT assets in organizations ranging from SMEs to major multinational corporations. These solutions will enable businesses to achieve increased operational efficiency as clients are able to focus key IT resources on strategic initiatives, continuous monitoring of the IT infrastructure, proactive identification and problem resolutions, enhanced staff productivity, improved storage utilization and greater scalability while maintaining simplicity in management, high-level data security and protection, easy access and seamless integration.

According to analysts and based on recent market research the enterprise data segment will continue to grow at the rate of 30 - 60% per year, proving that the demand for IT solutions has not been adversely impacted by the economic slowdown.

Salah Abu Shaar, CEO, STME, said:

"The acquisition will strengthen STME's position in the regional IT sector as we can effectively leverage advanced, well- established and industry-proofed solutions. Our role is to help businesses of all sizes to manage, store and protect data effectively and cost-efficiently. We continually assess new technologies and bring them to the region to enhance our portfolio and offer our customers value added services."

"STME is a valuable addition to our ICT portfolio. It has a strong regional base and its operational strengths complement our other investments well. ICT remains one of the more buoyant sectors within the crisis and so we expect the acquisition of one of this industry's key players to generate substantial returns," said Suleiman Al Assaf, CEO of MIC.

Founded in 1982, STME is an established regional Data storage and IT solutions and services provider which focuses on quality as a means to achieve enterprise efficiency. STME boasts a broad range of key technology providers to deliver solutions geared to meet clients' specific needs. These partners include NetApp, Symantec, Hitachi Data Systems among many others. The company is committed to designing and integrating innovative solutions to its portfolio of over 400 enterprise customers. STME has a presence throughout the Gulf region, Egypt, Levant and Pakistan.

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