HP today announced that it has signed agreements to acquire Compaq Services Saudi Arabia (CSSA) by purchasing the remaining shares formerly owned by the Alireza Group. CSSA will be renamed “Hewlett-Packard Services Saudi Arabia.”
Announcing details of the acquisition, Joseph Hanania, managing director of HP Middle East, said that this transaction was further evidence of HP’s commitment to develop its business in the Kingdom. “We are investing heavily in the Middle East, particularly in Saudi Arabia, with a view to get closer to our customers and partners and to be more agile and flexible in our offerings to them.”
“This strategic investment reflects HP’s responsiveness to changes in the marketplace, strengthens HP’s ability to interact better with customers and partners, and consolidates HP’s position as the largest IT company in the region,” Mr. Hanania added.
According to Abdullah Mohaisen, general manager of HP Saudi Arabia, “This acquisition will bring HP services closer to customers and make our large and comprehensive services portfolio yet more accessible and available to customers in the region. Over the last few years, Compaq Services Saudi Arabia has continued to grow – both in size and reputation – across all sectors including banking, energy and telecommunications.”
“We have enjoyed an excellent relationship with the Alireza Group and we will continue to work with them in the Kingdom through Natcom, an HP enterprise reseller and a member of the Alireza Group that works with many of our leading customers in KSA,” Mr. Mohaisen added.
Hanania, commenting on the HP Services portfolio, said “the comprehensive offerings help businesses to create and sustain an adaptive infrastructure that spells business agility. From applications solutions to availability consulting, Infrastructure Services to industry-specific support, mobile networking to outsource management, HP offer custom services designed to increase the return on IT. “
Business agility is a key competitive advantage for all enterprises. HP’s skilled professionals deliver a global services portfolio to help businesses assess, architect, integrate, and manage their IT environment as they build an Adaptive Enterprise with business and IT synchronised to capitalise on change.
“We have continued to lead the way in investment in Saudi Arabia with the establishment of a local assembly plant – the first vendor to make such a significant investment,” added Mr. Hanania. “With the enormous potential offered by the Saudi market, we will continue to develop our business in a proactive manner and look for opportunities to engage more fully with our customers both in Saudi Arabia and across the region,” he said.
About HP Middle East
HP is the largest technology and solutions provider in the Middle East with 670 employees and subsidiaries in Dubai, Abu Dhabi, Riyadh, Jeddah, Khobar, Cairo and Ramallah servicing the GCC, Egypt and the Levant. HP has been present in the Middle East since 1968 and opened its first regional office in 1994. HP Middle East is the market leader for enterprise, small and medium business and consumer technology products and offers a large portfolio of solutions and services in various business domains.
More information about HP in the Middle East is available at www.hp.com/me.
About HP
HP is a technology solutions provider to consumers, businesses and institutions globally. The company’s offerings span IT infrastructure, global services, business and home computing, and imaging and printing. For the four fiscal quarters ended Oct. 31, 2005, HP revenue totaled $86.7 billion. More information about HP (NYSE, Nasdaq: HPQ) is available at www.hp.com.
