Page 25 - SAMENA Trends - July-September 2024

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

e& Enterprise Successfully Completes US$60 Million Acquisition of
GlassHouse, Expanding into Türkiye

e& enterprise, the digital transformation arm of e&, announced the e& enterprise ecosystem. By harnessing e& enterprise's robust
successful completion of its US$60 million acquisition of Glass- portfolio, we will provide our customers with cutting-edge secu-
House, a leading Türkiye-based provider of managed cloud, busi- rity solutions and innovative strategies to accelerate their digital
ness continuity and SAP Infrastructure services. The acquisition, transformation journey.” Founded in 2004, GlassHouse has es-
originally announced in June this year, strengthens e& enterprise’s tablished itself as a prominent player in the cloud services sector.
capabilities in private cloud and managed services, bolstering its It offers managed cloud, business continuity, on-premise backup,
overall value proposition with the addition of SAP capabilities and private sovereign cloud, and SAP Infrastructure services to over
vertical expertise within the banking and financial services sector 2,000 enterprises in select geographies. The company boasts a
– supported by GlassHouse’s deep understanding and special- robust presence in the financial services sector, serving nine of
ist skills in this space. It also marks a significant milestone in e& the top 10 banks in Türkiye. With over 150 professionals operating
enterprise’s international growth strategy, following successful across offices in Türkiye, South Africa, and Qatar, GlassHouse is a
market entries into Saudi Arabia in 2019, Egypt in 2023, and now trusted partner for industry giants such as Microsoft, Dell, and SAP.
Türkiye, Qatar and South Africa. This acquisition also expands e&
group’s operational footprint to 34 markets. Now part of the e&
enterprise family, GlassHouse is well-positioned for growth with
a strategic focus on augmenting e& enterprise’s SAP capabilities
in both the UAE and Saudi Arabia. As the new wholly-owned sub-
sidiary of e& enterprise, GlassHouse will retain its brand identity
and continue to operate independently. Salvador Anglada, Chief
Executive Officer, e& enterprise, said: "We are thrilled to welcome
GlassHouse into the e& enterprise ecosystem as we continue to
bolster our value proposition by reinforcing our capabilities, add-
ing vertical expertise, and expanding into high-growth markets.
This acquisition is another bold step in our journey to becom-
ing a regional leader in end-to-end digital transformation.” Alp
Bağrıaçık, CEO, GlassHouse, said: “I am both proud and delighted
to announce the successful integration of our company into the

e& Increases Its Stake in Vodafone

Vodafone in 2022. Under the terms of the strategic partnership, e&
can increase its stake in the U.K. carrier to just under 25%. As part
of the deal, the CEO of e& was given a seat on Vodafone’s board
subject to regulatory approvals, with the Arab telco also given the
opportunity to appoint an independent non-executive director if
its stake in Vodafone increases above 20%. The U.K. government
previously said that the stake in local carrier Vodafone held by e&
group poses a national security risk to the country. The Cabinet
Office had warned that the stake held in Vodafone by e&, represents
a security concern for the authorities due to the strategic role of
Vodafone in the U.K.’s telecommunications market and given the
telco’s role in contributing to the U.K.’s cybersecurity and as a
U.K.-based Vodafone Group said Emirates Investment Authority, supplier to government departments. The government had ordered
which operates under the e& brand, has raised its shareholding Vodafone to organize a national security committee with the aim of
in the company and now owns 15.01% of its voting rights. In a overseeing and monitoring any sensitive work it carries out which
filing, Vodafone said that Emirates Investment Authority currently could have an impact on national security. The U.K. government
owns 3.94 billion voting rights in the company. It previously owned highlighted that this action was necessary and proportionate with
14.006%. The rights are worth 3 billion pounds ($3.94 billion) based the aim of mitigating the risk to national security. The Cabinet Office
on Vodafone’s closing share price of 75.62 pence. In May, Vodafone also noted the partnership would enable e& to “materially influence
and e&, which is 60% owned by the UAE government, announced a policy at Vodafone.” Oliver Dowden, secretary of state at the Cabinet
strategic relationship in which the latter increased its ownership in Office, has made several orders, including requirements that the U.K.
Vodafone to 14.6% The Arab telco had initially invested £3 billion in government be notified if any element of the relationship changes.

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