A&O Shearman advises e& enterprise on the acquisition of GlassHouse

Published Date
Jul 2, 2024
A&O Shearman is advising e& enterprise, the digital transformation arm of global technology and investment group e&, on its 100% acquisition of GlassHouse, a leading Turkish-based IT infrastructure services company. This move aligns with e&’s strategic ambition to scale e& enterprise, strengthen its digital capabilities, and expand its international footprint.

This acquisition, which is subject to customary closing conditions, is set to provide e& enterprise entry to the Turkish IT services and cloud market, allowing it to expand its existing solutions to Türkiye, and leverage GlassHouse SAP capabilities in both the UAE and Kingdom of Saudi Arabia.

Established in 2004, GlassHouse Technologies employs more than 150 people and has offices in Turkey, South Africa, and Qatar. e& enterprise delivers advanced B2B solutions using the latest technologies including cloud, IoT and AI industry solutions, cybersecurity, big data and analytics.

The transaction follows on from e& enterprise’s acquisition of a majority stake in P2P lending platform Beehive Group, in May 2023, which legacy Allen & Overy also advised on.

Ben Ward, Partner and META (Middle East, Turkey and Africa) Head of M&A/Corporate, who led the A&O Shearman team, said: “We are delighted to have worked with the e& enterprise team again, supporting them on this strategic acquisition which underlines their ambition to enter high-growth markets. Our multi-specialist team demonstrates the strength and depth of A&O Shearman’s M&A capabilities, including the recent expansion of our Turkish M&A offering since the arrival of Caner Elmas, one of the most prominent M&A practitioners in the Turkish market.”

The A&O Shearman team was led by Ben Ward and included Tom Butcher, Grace Hunt, Ruqaiya Ali, Lydia Challen, Hugh Hollman, Edyta Stopyra, Sonal Dingri, Jack Rossiter and Aysha Alawadhi as well as partner Caner Elmas and associates Berkan Tomay, Ozan Geyik, Ipek Ince, Nur Ertekin and Ozge Danaci from the Gedik & Eraksoy team.