Zain seeks bolt-on acquisitions

Telco aims to expand its cloud and unified communications services
Scott Gegenheimer said that Zain hopes to conclude some acquisitions this year.
Scott Gegenheimer said that Zain hopes to conclude some acquisitions this year.

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Kuwait mobile operator Zain plans to make acquisitions and partnerships that will help it to develop new capabilities such as cloud-based services and unified communications, according to a report from Reuters.

"Our approach is to seek in-country, bolt-on acquisitions which will allow us to develop capabilities to offer unified communications, cloud services and ICT services," Scott Gegenheimer, CEO, Zain Group, told Reuters in a telephone interview.

"Our goal is to work on concluding a number of acquisitions this year," he added.

Gegenheimer said that these deals could include buying or partnering with data centres and internet services providers.

However, Zain has no plans to immediate enter new countries, preferring to focus on developing new revenue streams. "I don't see us making billion-dollar acquisitions, but we need to get into these sectors," he said.

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