Ooredoo Sells Meeza Stake to Focus on Syntys Expansion
▼ Summary
– Ooredoo Group sold a 6% stake in Meeza to funds managed by Fiera Capital (UK) at market price.
– Ooredoo now retains only a 4% holding in Meeza, which it considers a non-strategic investment.
– The divestment aligns with Ooredoo’s strategy to focus resources on its AI-ready hyperscale data centre platform, Syntys.
– Syntys is central to Ooredoo’s regional ambitions for advanced data infrastructure across the Middle East and North Africa.
– This move sharpens Ooredoo’s focus on scaling its proprietary platforms to meet demand for hyperscale data services and AI readiness.
Ooredoo Group has strategically divested a 6% minority stake in Meeza QSTP, a prominent managed IT services and solutions provider in Qatar. The shares were acquired by funds managed by Fiera Capital (UK) at the prevailing market rate, as confirmed in a recent filing with the Qatar Stock Exchange.
This transaction reduces Ooredoo’s ownership in Meeza to just 4%, which the company has classified as a non-strategic holding intended for eventual full divestment. The decision reflects a deliberate shift in focus toward more core technological ventures.
Central to this realignment is Syntys, Ooredoo’s AI-ready hyperscale data center platform. The company is directing significant resources toward expanding Syntys as part of its broader regional growth strategy. This platform is designed to support the increasing demand for cloud computing, artificial intelligence integration, and comprehensive digital transformation across the Middle East and North Africa.
By reducing its involvement in Meeza, Ooredoo aims to concentrate more intensely on scaling its proprietary data infrastructure. This move underscores the operator’s commitment to advancing hyperscale capabilities and strengthening its position in the rapidly evolving digital services market.
(Source: MEA Tech Watch)