News
New Merger Creates Middle East’s Biggest Telecom Company
Saudi Arabia’s PIF and stc Group have combined resources, in a move that will significantly boost network coverage and customer experience.
Saudi Arabian wealth fund PIF has agreed to purchase a 51% stake in Tawal, the country’s biggest telecommunications infrastructure company, with an enterprise value of $5.85 billion. The stake was formerly owned by the Saudi Telecommunications Company (stc Group).
PIF and stc Group will now merge Tawal and Golden Lattice Investment Company (GLIC) into a new entity, forming the “largest regional company in the telecommunication infrastructure sector” with over 30,000 mobile tower sites and annual revenues surpassing $1.3 billion.
The new company will be owned 54% by PIF and 43.1% by stc Group, with GLIC minority shareholders owning the rest of the issued share capital.
Raid Ismail, Head of MENA Direct Investments at PIF said: “Today’s announcement is a significant milestone for the telecommunications industry in Saudi Arabia and the wider region. By bringing together the assets of GLIC and TAWAL, we will establish a consolidated platform on which the telecommunications sector can flourish and give people a better experience to best connect communities and businesses. It is also in line with PIF’s strategy and the Saudi Vision 2030”.
Also Read: Microsoft Invests $1.5 Billion In Abu Dhabi AI Tech Firm G42
Combining Tawal and GLIC is seen as a positive stepping-stone to consolidating Saudi Arabia’s tower market and increasing operating efficiencies and excellence to deliver a better experience for customers.
Once operational, network coverage should see a welcome boost, while general connectivity and internet speeds will also be improved.
The merger follows Tawal’s purchase of infrastructure in Bulgaria, Croatia, and Slovenia, making this “Saudi national champion” the region’s biggest independent tower company.
News
Samsung Smart Glasses Teased For January, Software Reveal Imminent
According to Korean sources, the new wearable will launch alongside the Galaxy S25, with the accompanying software platform unveiled this December.
Samsung appears poised to introduce its highly anticipated smart glasses in January 2025, alongside the launch of the Galaxy S25. According to sources in Korea, the company will first reveal the accompanying software platform later this month.
As per a report from Yonhap News, Samsung’s unveiling strategy for the smart glasses echoes its approach with the Galaxy Ring earlier this year. The January showcase won’t constitute a full product launch but will likely feature teaser visuals at the Galaxy S25 event. A more detailed rollout could follow in subsequent months.
Just in: Samsung is set to unveil a prototype of its augmented reality (AR) glasses, currently in development, during the Galaxy S25 Unpacked event early next year, likely in the form of videos or images.
Additionally, prior to revealing the prototype, Samsung plans to introduce…
— Jukanlosreve (@Jukanlosreve) December 3, 2024
The Galaxy Ring, for example, debuted in January via a short presentation during Samsung’s Unpacked event. The full product unveiling came later at MWC in February, and the final release followed in July. Samsung seems to be adopting a similar phased approach with its smart glasses, which are expected to hit the market in the third quarter of 2025.
A Collaborative Software Effort
Samsung’s partnership with Google has played a key role in developing the smart glasses’ software. This collaboration was first announced in February 2023, with the device set to run on an Android-based platform. In July, the companies reiterated their plans to deliver an extended reality (XR) platform by the end of the year. The software specifics for the XR device are expected to be unveiled before the end of December.
Reports suggest that the smart glasses will resemble Ray-Ban Meta smart glasses in functionality. They won’t include a display but will weigh approximately 50 grams, emphasizing a lightweight, user-friendly design.
Feature Set And Compatibility
The glasses are rumored to integrate Google’s Gemini technology, alongside features like gesture recognition and potential payment capabilities. Samsung aims to create a seamless user experience by integrating the glasses with its broader Galaxy ecosystem, starting with the Galaxy S25, slated for release on January 22.
Samsung Smart Glasses Teased For January, Software Reveal Imminent
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