STC has agreed to buy a further 20% stake in media content firm Intigral. STC will acquire the additional stake from Saudi Research & Marketing Group for about SR90 million ($24m), increasing its share in the content firm to 71%.
STC said that the deal is “in line with its strategy to focus on content services” that are important to its customers.
Intigral offers religious, entertainment, and educational content through various channels and mediums including messaging, audio and interactive television.
Intigral works with more than 400 content providers in the Arab world and 20 content providers globally. The company is also set to launch an applications store to niche content for smart devices, which will reinforce STC’s market position and pioneering role in smart devices and tablets.
STC has invested heavily in content based services in the past couple of years, launching services such as Invision, which has more than 150 high definition channels. The service allows customers to view visual content as well as other interactive services, solutions and gaming.