VIVA buys Qualitynet for KD 28.3 million.

VIVA, Kuwait’s fastest-growing and most developed telecom operator, announced that it has acquired 100 percent of the share capital of the Internet Service Provider Quality Net General Trading and Contracting Company (Qualitynet) in Kuwait for a total value of KD 28.3 million.

On this occasion, Dr Mahmoud Ahmed Abdulrahman, Chairman of VIVA, said: “I am pleased to welcome Qualitynet team joining VIVA family, and I believe it’s an important moment for both organizations to expand the strength of our practice and share expertise.

The acquisition allows VIVA to capture the growth potential in the business market and enable the great talented people of VIVA and Qualitynet for the journey towards fully integrated products and services and innovative solutions. As well, we will delight both customers and enterprises and are committed to exceed their expectations.

VIVA acquired the entire share capital of Qualitynet for a total value of KD 28.3 million, 90 percent from Batelco Group and 10 percent from National Bank of Kuwait, and conclude the acquisition process, which started mid of 2018.” He added: “I would like to take the opportunity to recognize the vital role of The Communication and Information Technology Regulatory Authority (CITRA) in Kuwait for its continued support towards the telecom sector, enabling Kuwait to make its mark as one of the most developed and advanced countries in the telecom industry, and aiming to support the vision of His Highness Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah for Kuwait 2035, in positioning Kuwait as a major financial and commercial hub in the region.”

On his part, Eng Maziad Nasser Al-Harbi, CEO of VIVA said: “This is a major milestone for VIVA showing strong commitment to enhance our customers’ lives. This acquisition will be reflected positively and significantly on both customers and they will benefit from this outstanding transaction, as VIVA and Qualitynet are planning to enhance their service offerings and bring future-ready products and services at exceptional quality to the Kuwaiti market”. He added: “We will strive to provide the best cutting-edge customer experience across both companies and boost both VIVA’s and Qualitynet’s growth profiles.

The acquisition of Qualitynet is a corner stone for us to successfully implement our strategy to grow in the enterprise segment. It will enable us to offer unique products and services to the Kuwaiti corporate customers bringing it to the equal of international standards. At the same time, individual customers will benefit with diversified and enhanced service offerings tailored to solve their ever changing communication needs – at home and on the go.”

No.of Reads (26)

WCK

A light Year Ahead News Source.