RIYADH, SAUDI ARABIA – solutions by stc on Monday announced the signing of a Memorandum of Understanding (MoU) with Devoteam Global Group, an IT consulting firm, aiming to leverage global investment and foster opportunities for collaboration in technology and other related domains.
The agreement follows and builds upon the acquisition by solutions of a 40 percent stake in Devoteam Middle East last week, according to a press release issued by solutions by stc.
The acquisition was initiated during Saudi Arabia Crown Prince and Prime Minister Mohammed bin Salman’s visit to France in June last year, during which economic cooperation and investment opportunities were discussed.
Under the memorandum the two parties will “collaborate to explore and capitalize on common markets and assess cooperation and investment prospects within the dynamic ICT landscape across the region and globally”.
The collaboration also aims to combine the experience and resources of the parties for mutual benefit.
The agreement was signed by solutions by stc CEO Omer Alnomany and Devoteam Group CEO Stanislas de Bentzmann, the press release added.
The strategic alliance will empower the two parties to harness extensive digital transformation and technology expertise, and integrate it with global insights, consulting and investment opportunities.
