Riyadh, February 08, 2024, stc Group, a prominent digital facilitator in the Middle East and North Africa (MENA) region, has entered into a memorandum of understanding (MoU) with iBASIS, a leading independent provider of communication solutions for global operators and digital entities. This strategic collaboration, announced during the esteemed Capacity Middle East event held in Dubai from February 6 to 8, aims to enhance the provision of a seamless global communication experience through internet of things (IoT) technology within the region.
Through this MoU, stc will leverage iBASIS's expertise and industry-leading position in the IoT domain. This partnership will enable developers of IoT technologies in Europe and the United States to extend their business reach into the MENA region. By enhancing machine-to-machine (M2M) connectivity and facilitating international Original Equipment Manufacturers (OEMs) to explore growth opportunities in MENA, this collaboration will accelerate the advancement of IoT technologies. It will equip IoT developers with adaptable communication services, fostering rapid expansion and thereby contributing to economic growth and diversification of investment opportunities in the region.
The partnership between stc Group and iBASIS is poised to drive innovation and digital transformation, catering to the evolving needs of telecom services in the MENA region, particularly in the burgeoning smart device industry. Additionally, it will strengthen IoT connectivity in MENA to meet the growing demands of businesses, while fostering collaboration to create a more interconnected and inclusive world for future IoT services through digital innovation.
This MoU, alongside stc Group’s substantial investments in digital infrastructure, is aligned with the objectives of Saudi Vision 2030. It aims to drive digital transformation and position the Kingdom as a global digital hub, bridging Asia, Africa, and Europe. This initiative underscores the commitment to fostering economic growth and international collaboration in the digital realm.
