Kuwait - 07th December 2019:VIVA, a world-class digital leader providing innovative services and platforms to customers and enabling the digital transformation in Kuwait, and a subsidiary of STC Group, has been announced as a winner of “Telecommunication Service Deal of the year” at the 18th Annual M&A Advisor Awards in New York on Tuesday, November 19th. The award was presented to VIVA representative Mr. Wassim El-Hayek General Manager of Investor Relations and M&A. This year, over 200 nominees, representing over 500 companies, became finalists for the awards. An independent judging committee of 28 top M&A industry experts determined the ultimate recipients of the awards.
On this occasion, Mr. Mohammed Bin Abdulmohsen Al-Assaf, CFO at VIVA said, “This prestigious award reinforces VIVA’s stance in the market since it was chosen from over 500 participating companies to receive this honorable award which represents the best of the M&A industry in 2019. VIVA's positioning in this major event, where it was the only company from the Middle East, was the result of the company's first success in the field of acquisitions, which translated into the acquisition of Qualitynet the leading internet service provider in Kuwait.”
He added: “VIVA has adopted the highest professional standards for the completion of this transaction through its M&A Department within the Finance Sector. In addition, this transaction went through several stages and challenges in order to reach the best results and achieve the desired objectives through the process of the evaluation and due diligence covering all aspects including financial, technical and legal in cooperation with the best local and international consultancy firms. I would like to thank our advisors who contributed to this success, especially NBK Capital (Financial Advisor) and Meysan lawyers and legal consultants (Legal Advisor) for their professionalism in completing this transaction.”
He continued: “VIVA is always eager through its robust strategy to play a leading role in applying best practices and professional standards across all VIVA sectors and departments that support its plans and activities. The acquisition of Qualitynet allows VIVA to capture the growth potential in the business market and enable the great talented people of VIVA and Qualitynet for the journey towards fully integrated products and services and innovative solutions in line with the digital transformation.”