Page 24 - SAMENA Trends - Gitex Special 2023

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

MEMBERS NEWS

sirar by stc Ranked 1st in MENA in the MSSP for
2023

sirar by stc, the cutting-edge cyberse- global stage with industry giants around and in the MENA region scale. Through its
curity provider and one of the stc group the world, sirar by stc stands out as the Managed Security Services (MSS), sirar
subsidiaries, an engine of digital transfor- sole Saudi Arabian company on this list. enables organizations to take control of
mation in the region, has been ranked 1st Furthermore, sirar has undertaken stead- their digital environments and enhance
in the Middle East and North Africa and fast endeavors since its foundation in their cybersecurity capabilities. The
the 11th position globally in MSSP Alert's 2021 to position itself as the trusted comprehensive suite of services includes
Top 250 Managed Security Service Provid- data economy platform. This pursuit SOC as a service, VMDR, DDoS protection,
ers for 2023 list. This recognition comes is underpinned by its state-of-the-art email security, web security, Sayn, etc.
from extensive research conducted by cybersecurity services, which have been These offerings expand the horizons of
the esteemed CyberRisk Alliance. Among instrumental in bolstering the digital foun- security operations, empowering custom-
the illustrious companies sharing this dations of enterprises within the kingdom ers to detect and counteract cyber threats
proactively. This achievement underscores
the company’s unwavering commitment
to continually enhance its capabilities and
broaden its offerings, thereby empower-
ing organizations to fortify their digital
defences and elevate the cybersecurity
landscape in the Middle East and North-
ern Africa. It is worth mentioning the role
of the dedicated local expertise in this
achievement. This recognition stands as
a testament to the commitment of the
company’s experts in driving growth.
It remains steadfast in its promise to
deliver cybersecurity services in excel-
lence that meet the highest standards.

Saudi Giant stc Splashes €2.1B on Telefonica Stake

Saudi Telecom Company (stc) bought a relations portal list Banco Bilbao Vizcaya across promising markets globally”. In
9.9 per cent interest in Telefonica for €2.1 Argentaria as its largest investor, with a its disclosure, the Spanish operator cited
billion, the Saudi Arabian operator’s latest near 5 per cent share as of the end of 2022, “stc’s friendly approach and its support
move to increase investments outside of so the full 9.9 per cent would likely give stc for the team management, Telefonica’s
its home market. In a statement, stc backed top spot. The acquisition is part of a strat- strategy and its ability to create value”.
Telefonica’s current leadership and strate- egy to expand stc’s interest in the ICT sec-
gy, adding it had no intention of acquiring tor across global markets. As part of this
control or a majority stake in the Spain- drive, earlier this year it bought €1.2 billion
based operator group. Telefonica’s related worth of tower assets in Bulgaria, Croatia
stock market statement explained stc had and Slovenia from Unitel Group through
bought 4.9 per cent through direct share tower subsidiary Tawal, having already ex-
capital and “financial instruments that panded that business into Pakistan. Mo-
provide economic exposure on another 5 hammed K. A. Al Faisal, chair of stc, said
per cent”. The Saudi operator currently has it and Telefonica have much in common,
voting rights on the direct share capital, adding “this long-term, significant invest-
with similar rights on the remainder sub- ment by stc Group is a continuation of our
ject to obtaining approval from regulators. growth strategy, as we invest in vital tech-
Figures published on Telefonica’s investor nology and digital infrastructure sectors

24 GITEX SPECIAL 2023