The acquisition supports the Public Investment Fund ambitions and STC Group’s mission to drive the digital transformation of the MENA region.
Public Investment Fund
The satellite connectivity will account for more than 80% of the region’s revenue opportunities, and the MEA region overall will exceed $150bn in cumulative...
Saudi Arabia to benefit from new satellite IoT services developed by iot squared and OQ Technology.
Saudi Arabia’s sovereign wealth fund has acquired a 60% majority stake while Sultan Holding company and Prince Saud bin Fahad have snapped up 10% each.
The first joint venture of its kind will involve the development of advanced communications, sensors, and integrated mission systems.
