Groupe Atlantic, e&enterprise expand presence with major Turkish investments

UAE-based telecommunications giant e&enterprise and French climate control company Groupe Atlantic have completed two major acquisitions in Türkiye, both officially approved by the Turkish Competition Authority.

These strategic moves highlight the increasing interest of global companies in Türkiye’s key sectors.

• e&enterprise (formerly Etisalat) acquired Türkiye-based IT company GlassHouse for $60 million. GlassHouse, a regional player with offices in Qatar, South Africa and Türkiye, was founded in 2004 and offers data backup, archiving, and storage services. The company serves approximately 2,000 organizations. This acquisition once again shows e&enterprise's interest in Türkiye's IT infrastructure. The company had previously participated in Turk Telekom's privatization tender.
• Groupe Atlantic acquired shares in Eneko Ventilation and Heat Economy System Technologies, an Izmir-based company. The French company, which was founded in 1968, operates in 10 countries and employs 13,000 people worldwide. Groupe Atlantic, which entered the Turkish market in 2007, had previously acquired Erensan. This investment in Eneko is considered a part of the company's growth strategy in Türkiye.

Why important?

These acquisitions continue to put Türkiye's strategic importance and potential in the technology and air conditioning sectors on the radar of international investors.

Leading companies from the Gulf Region and Europe's interest in Türkiye is an important indicator of economic growth and employment opportunities.

Both e&enterprise and Groupe Atlantic aim to expand their presence in the region by capitalizing on Türkiye's strong infrastructure and workforce.

Big picture

These investments have demonstrated Türkiye's potential in digital transformation and sustainable energy solutions on an international scale.

These investments, particularly in strategic areas like information technologies and air conditioning, boost Türkiye's global competitiveness and foster business partnerships that pave the way for future business opportunities.

September 11, 2024 03:27 PM GMT+03:00