Page 9 - SAMENA Trends - July-August 2023

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

MEMBERS NEWS

stc Group Continues to Invest Qualitatively in
Commitment to Excellence Through Its Subsidiary
“solutions”

The prominent ICT provider in Saudi
Arabia, "solutions by stc", has recently
announced a binding offer with Devoteam
SIS (France) and Ortel company. The offer
entails the acquisition of a 40% stake in
Devoteam Middle East, a top-performing
entity in the digital consulting domain
across the region. This move aligns with
stc's strategic expansion and growth plans,
focusing on accessing lucrative sectors
and investments. After completion of this
transaction and receiving all necessary
approvals, the move will further strengthen
stc position as a group in the ICT industry as
a digital enabler. This will be accomplished
by integrating its subsidiaries eco-system
specializing in digital infrastructure, IoT,
cloud computing, cybersecurity, digital is a member of the Devoteam global group, strategy implemented by stc involves the
financial services, and business process where it extends a local and regional expansion in scale and scope through the
outsourcing services. The move follows presence with international expertise. This growth in digital infrastructure, information
the Group's recent acquisition through its unique combination of capabilities allows technology, and emerging technologies
subsidiary Tawal of the communication the company to provide strategic digital as stc is the enabling engine of digital
towers assets owned by United Group, services, business transformation, data transformation in the region allowing the
which marked its entrance into the analysis, artificial intelligence, and business achievement of the digital economy goals.
European market. Devoteam Middle East automation. The aspirational “DARE”

iot Squared Cements Its Position as National IoT Champion Through

Acquisition of Machinestalk

stc Group, an engine of digital played a significant role in the adoption the collaboration between PIF and stc
transformation in the MENA region, of IoT technologies in various sectors and as this reflects the major investment
announces that iot squared, a joint venture has collaborated with industry leaders to strategy in the products and services in
between the Public Investment Fund (PIF) advance the IoT eco-system in the Middle ICT industry, including investments in
and stc group, is completing a highly East to revolutionize multiple sectors and digital Clouds, Cybersecurity, Fintech and
successful first year since its establishment advance the local digital transformation digital entertainment. These investments
with signing a binding agreement to acquire plans. iot squared supports businesses contribute to driving digital transformation
100% of Machinestalk, a pioneer provider operating across three key verticals, and contribute to Saudi Arabia’s Vision
of IoT solutions and applications in Saudi including smart cities, Industry 4.0, and 2023 in leading digitization in the region.
Arabia. The acquisition will accelerate iot smart mobility and logistics, by supplying Machinestalk is one of the largest Saudi
squared's growth and solidify its position IoT technologies, such as IoT sensors, companies in the IoT domain, founded in
as the leading provider of IoT solutions in platforms, and applications to improve and 2015 as a subsidiary of NOMD Holding. It
the region. iot squared delivers industry- develop the performance and productivity has actively contributed to the Kingdom’s
leading IoT solutions, which provides real- of industrial processes with the power telematics domain over the past years,
time insights into Saudi Arabia. Since its of real-time insights. The acquisition delivering diversified solutions focused on
establishment in 2022, iot squared has represents an important milestone in Smart Mobility, with additional capabilities

9 JULY-AUGUST 2023