ZTE agreed to acquire a 48% shareholding in Netaş Telekomünikasyon A.Ş. (Netas), a leading ICT supplier based in Istanbul. Netaş’ R&D Center with 800 engineers is the largest private R&D center in Turkey.
ZTE said the investment in Netaş will strengthen its ability to capture opportunities generated by the Chinese government’s “One Belt, One Road” initiative and Turkish government’s plans for a strong ICT economy. Netaş will continue to grow as a Turkish ICT flagship company driving innovations with international reach.
Following the proposed transaction, Netaş will remain an independent company, with increased access to ZTE’s world class portfolio of products, services and solutions for telecom carriers, enterprises and governments, as well as consumers.
Mr. C. Mujdat Altay, CEO of Netas, expressed excitement for ZTE’s investment in Netaş. “As Turkey’s number one systems integrator, Netaş develops software solutions for more than 160 global operators and has been named Turkey’s “Top Software Exporter” by ICT 500 Turkey Research five times. Netaş is a technology company born and grown in Turkey. We are working diligently to become one of the 10 brands coming out of Turkey by 2023, the Centennial of the Turkish Republic, as per the initiatives set forth by the Turkish Government. With our new shareholder ZTE, the multinational ICT solutions and technology vendor, we will continue to flourish and position Netaş as a global technology player.
http://www.netas.com.tr/
http://www.zte.com.cn/global/about/press-center/news/201612ma/1206
