Herbert Smith Freehills advises Sumitomo Corporation on investment in Zension Technologies

Leading international law firm Herbert Smith Freehills has advised Sumitomo Corporation in relation to its strategic investment in Zension Technologies Inc., a smartphone subscription services company operating in the Middle East. 

Founded in Saudi Arabia, Zension offers subscribers continuous access to the latest consumer technology with the flexibility to upgrade, switch brands, and return devices at a lower monthly cost than purchasing the same device. 

The investment marks a significant milestone in Sumitomo's expansion into the rapidly growing consumer technology market in the Middle East.

The Herbert Smith Freehills team was led by partner and head of Middle East Corporate Chris Walters, with support from senior associate Jad Nasr. Merger control aspects were led by managing partner of the firm's global Competition, Regulation and Trade practice Kyriakos Fountoukakos and Riyadh managing partner Joza AlRasheed.