Emirates Telecommunications Group’s (e&) e& enterprise is acquiring 100% of Turkey-based cloud services provider GlassHouse for USD 60 mn, according to an ADX disclosure (pdf). The transaction will be carried out through debt financing, and is structured on a cashfree, debtfree basis.

The move coincides with e& enterprise’s push to scale operations, ramp up digital capabilities, and expand globally. The acquisition is subject to customary closing conditions.

About GlassHouse: GlassHouse is a leading provider in Turkey for data backup, business continuity, managed cloud, and SAP Infrastructure services, serving some 2k enterprises across banking, technology, telecommunications, public services, aerospace, and defense sectors. The company has offices in Turkey, Qatar, and South Africa.

What’s next? GlassHouse’s financials will be consolidated into e&'s post-acquisition, with the impact on e&'s financials expected to be insignificant but will be EPS accretive, the disclosure reads. GlassHouse generates more than 80% of its revenue in USD.

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