A New Era Begins: GlassHouse Joins the e& Enterprise Family

e& enterprise expands its global reach with a $60M acquisition of GlassHouse, marking Türkiye as it’s the group’s 33rd operational market. GlassHouse will operate independently as a subsidiary of e& enterprise, retaining its brand identity

e& enterprise, a group company of e&, the largest global technology conglomerate operating in 32 countries across the Middle East, Asia, and Africa, has acquired the shares of GlassHouse, Turkey's leading IT infrastructure service provider. Following the signing of the Share Transfer Agreement on June 25, e& enterprise, the digital transformation arm of e&, announced the successful completion of the acquisition of 100% of GlassHouse's shares for USD 60 million. With this acquisition, GlassHouse will join the portfolio of e& enterprise’s subsidiaries, while continuing to operate independently under its own brand identity.

Since 2018, with the investments from Mediterra Capital, one of Turkey's leading private equity investment funds, GlassHouse has solidified its position as Turkey's leading IT infrastructure service provider, tripling its revenue over the past six years.

With a 2023 revenue of 14 billion USD and an annual growth rate of 9%, e& has realized its strategy of enhancing the geographic growth and digital transformation capabilities of its group company e& enterprise through this acquisition. By entering the Turkish IT services and cloud market with this investment, e& enterprise aims to offer cutting-edge digital transformation solutions to Turkey's leading companies and to expand its cloud service portfolio, enhancing its SAP capabilities.

GlassHouse, the only domestic IT infrastructure service provider to secure strategic investment from an international brand, plans to offer its customers more innovative IT services and international-standard managed cloud capabilities in this new era.

Salvador Anglada, Chief Executive Officer, e& enterprise, said:, "We are thrilled to welcome GlassHouse into the e& ecosystem as we continue to bolster our value proposition by reinforcing our capabilities, adding vertical expertise, and expanding into high-growth markets. This acquisition is another bold step in our journey to becoming a regional leader in end-to-end digital transformation, realising the group’s expansion ambitions and broadening its global footprint with Türkiye as our 33rd operational market."

Alp Bağrıaçık, CEO, GlassHouse, said: , "I am extremely proud and delighted that GlassHouse is part of this significant wave of investment, which strengthens Turkey’s position as a strategic hub for technology and innovation. With GlassHouse's brand value and technical expertise, combined with e& enterprise's vision, we have brought one of the largest foreign direct investments (FDI) in IT infrastructure services in recent years to our country and industry. This investment, amounting to USD 60 million, will continue to grow with an additional USD 10 million per year on average over the next five years. With this motivation, we will expand our team, creating new employment opportunities and facilitating substantial technology transfer in the field of digital transformation. As we continue this journey under our own brand identity, we will build a highly capable team and become a major force in service exports in our region. Leveraging e& enterprise’s strong portfolio, we will offer our customers new security solutions and alternative approaches to accelerate their digital transformations."

Founded in 2004, GlassHouse has established itself as a prominent player in the cloud services sector. It offers managed cloud, business continuity, on-premise backup, private sovereign cloud, and SAP Infrastructure services to over 2,000 enterprises in select geographies. The company boasts a robust presence in the financial services sector, serving nine of the top 10 banks in Türkiye. With over 150 professionals operating across offices in Türkiye, South Africa, and Qatar, GlassHouse is a trusted partner for industry giants such as Microsoft, Dell, and SAP.

During the sales process, GlassHouse received financial advisory from Alpacar Associates and legal advisory from Kolcuoğlu Demirkan Koçaklı. e& enterprise was advised by FTI Capital Advisors for financial matters and Allen & Overy for legal matters.

About GlassHouse

Since 2004, GlassHouse has been a trusted partner for Turkey's leading organizations on their digital transformation journeys, providing comprehensive IT infrastructure services. In 2024, GlassHouse became part of e& enterprise, a subsidiary of e&, the largest global technology company operating across 32 countries in the Middle East, Asia, and Africa. This acquisition solidifies GlassHouse's position as Turkey's premier IT infrastructure service provider, with a strong emphasis on Managed Cloud Services, SAP Infrastructure and Consulting Services, as well as Backup and Business Continuity Services.

With a dedicated team of over 100 skilled IT engineers, GlassHouse offers unparalleled technical expertise to Turkey's top companies. Our professionals deliver tailored solutions that adhere to local regulations, including financial legislation, whether operating on the GlassHouse Cloud platform, within a Hyperscaler environment, or in customer-specific IT infrastructures.

At GlassHouse, our expert team takes ownership of our clients' business operations, seamlessly integrating as an essential part of their teams. Our management consistently evaluates customer satisfaction levels and actively supports the success of client projects at every stage.

About e& enterprise

e& enterprise is a digital transformation leader supporting governments and large-scale organisations in building and scaling their digital core.

Through optimising operations, enhancing customer engagement, and data-driven decision-making, we enable seamless, sustainable, and secure transitions into the evolving digital world.Currently operating in the UAE, KSA, Egypt, and Oman, e& enterprise brings cutting-edge digital scalable solutions designed to deliver tangible business value and address the unique challenges faced by organisations and executives across industries.With a proven track record as a trusted digital transformation partner, technical expertise, and the ability to deploy and manage complex solutions, e& enterprise provides collaborative tailored solutions that empower customers to navigate their end-to-end digital transformation journey.

To learn more about e& enterprise, please visit www.eandenterprise.com

For any inquiries regarding GlassHouse solutions, you can email us at info@glasshousetechnology.com