Ericsson said that, as part of the deal, it will establish a media hub in Abu Dhabi to serve clients across the Middle East and beyond, claiming that the acquisition “provides an ideal springboard” for expansion.
“The Middle East is an exciting, high-growth region with a strong local and international broadcaster base. As the TV industry is witnessing a massive transformation in light of the convergence between IT, media and telecoms, Ericsson is helping broadcasters to overcome the challenges of this transformation and the fierce competition that exists in the rapidly changing TV market,” said Ericsson’s head of broadcast and media services, Thorsten Sauer.
Noura Al Kaabi, CEO of twofour54, added: “twofour54 is committed to the growth of the media industry across the MENA region. This long-term partnership with Ericsson is another step towards achieving our goal of being the region’s leading developer of a sustainable, private sector led media industry.”