Noventiq Announces Strategic Joint Venture with Al-Suwaiket Group in Saudi Arabia - Seite 2

Sheik Mubarak bin Abdullah Al-Suwaiket, Chairman of Al-Suwaiket Group, shared: "This joint venture with Noventiq marks a new era of technological advancement for Saudi Arabia. By combining our local expertise with Noventiq's global capabilities, we are setting a new standard for innovation and digital excellence in the region."

Mohamed Mostafa, Regional Director for MEA - Saudi Arabia & Egypt, highlighted: "With Saudi Arabia positioned as one of the fastest-growing markets worldwide—and the fastest growing G20 economy in 2020—this joint venture is a testament to our belief in the country's potential and our commitment to contributing to Saudi Vision 2030. I am excited to lead this joint venture with the extraordinary team, from Al-Suwaiket Group, and I look forward to enhancing the digital transformation ecosystem in Saudi Arabia."

This joint venture is poised to accelerate Noventiq's growth in Saudi Arabia, leveraging the synergies between Noventiq's global expertise and Al-Suwaiket Group's regional leadership to deliver unparalleled technology solutions and services.

Business Combination Agreement

As previously announced on May 4, 2023, Noventiq and Corner Growth Acquisition Corp. (NASDAQ: COOL) entered into a business combination agreement that is expected to result in the combined company being listed on Nasdaq under the symbol “NVIQ”. The proposed business combination is expected to provide Noventiq with improved access to new sources of capital, accelerate M&A opportunities, and enhance its reach and capabilities in fast-growing technology development in cybersecurity, generative AI, and other high-margin solutions and tools.

About Noventiq

Noventiq (Noventiq Holdings PLC) is a leading global solutions and services provider in digital transformation and cybersecurity, headquartered in London. The company enables, facilitates, and accelerates digital transformation for its customers’ businesses, connecting organizations across a comprehensive range of industries with best-in-class IT vendors, alongside its own services and proprietary solutions.

The company’s rapid growth is underpinned by its three-dimensional strategy to expand its market penetration, product portfolio, and sales channels. This is supported by an active approach to M&A, positioning Noventiq to capitalize on the industry’s ongoing consolidation. With around 6,400 employees globally, Noventiq operates in approximately 60 countries with significant growth potential in multiple regions including Latin America, EMEA, and APAC – with a notable presence in India. For more information: Noventiq – a global provider of IT solutions and services