Investcorp invests in NourNet, one of Saudi Arabia’s leading connectivity and ICT services providers

Investcorp invests in NourNet, one of Saudi Arabia’s leading connectivity and ICT services providers

Bahrain: Investcorp, a leading global alternative investment firm, announced today that an entity managed by Investcorp has acquired a majority stake in Nour Internet for Communication and Information Technology Company (“NourNet”), one of Saudi Arabia’s largest pure-play providers of connectivity and information and communication technology (“ICT”) services, namely cloud, cybersecurity and managed services.

NourNet was established in 1998 in Saudi Arabia as a wholly owned subsidiary of a business conglomerate, Nour Communications Co. NourNet began as an internet service provider to business-to-business (B2B) clients and has gradually expanded its technical and personnel capabilities to offer value-added ICT services, including cloud, managed IT services, security/cybersecurity, and data center management. NourNet has over 450 employees serving a diversified client base of more than 1,200 businesses across 30 cities in the Kingdom.

Hazem Ben-Gacem, Co-Chief Executive Officer of Investcorp, commented: “We are delighted to have made this investment leveraging Investcorp’s global experience investing in the business services sector and focusing on technology-enabled businesses, combined with our strong experience investing in and taking companies public in Saudi Arabia. Our investment strategy and commitment to this sector is in-line with Saudi Arabia’s Vision 2030 to accelerate digital transformation across industries.”

Walid Majdalani, Head of Private Equity MENA and