Riyadh, February 12, 2024, solutions by stc issued a press release today announcing the signing of a memorandum of understanding with Devoteam Global Group, a leading IT consulting firm, with the aim of leveraging global investments and fostering collaborative opportunities in technology and related domains.
The release highlighted that this agreement follows and builds upon the recent acquisition by solutions of a 40% stake in Devoteam Middle East, initiated last week. This acquisition was initially discussed during HRH the Crown Prince's visit to France in June last year, where economic cooperation and investment opportunities were explored.
Under the memorandum, the two parties will collaborate to explore and capitalize on common markets, as well as assess cooperation and investment prospects within the dynamic ICT landscape across the region and globally. The collaboration seeks to combine the experience and resources of both entities for mutual benefit.
The agreement was formally signed by solutions by stc CEO Omer Alnomany and Devoteam Group CEO Stanislas de Bentzmann. According to the release, this strategic alliance will enable the two parties to leverage extensive digital transformation and technology expertise, integrating it with global insights, consulting services, and investment opportunities.
