SIV Acquires Majority Stake in Sahara Net LLC

SIV Acquires Majority Stake in Sahara Net LLC

The investment firm Sahara International Ventures NV (SIV) and the leading Internet Service Provider in Saudi Arabia, Sahara Net revealed on Tuesday August 17th, 2010 that they have reached an agreement whereby SIV has acquired a majority shares in Sahara Net for an undisclosed figure.

Founded by two young entrepreneurs, (Haitham Abu-Aisha and Kais Al-Essa) in 1989, Sahara Net is a leading Internet service provider on the corporate market in Saudi Arabia. The company offers a comprehensive array of services including Internet leased lines, VPN, MPLS, Managed Services and Web Hosting. All offered throughout its branches in Saudi Arabia including Riyadh, Jeddah, Dammam, Jubail, Yanbu and Abha.

SIV’s investment in Sahara Net comes in line with the current strategy to expand in growing markets within the MENA region and further support and improve the existing operations.

Sahara International Ventures NV is an investment company with the objective to further expand in acquiring small broadband assets in selected developing countries. SIV is a joint venture between Belgacom NV/SA , the incumbent Belgian telecom operator and Panthers Investments BV, the former majority shareholder of Scarlet NV .

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