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

Noventiq Holdings PLC (Noventiq), a leading provider of digital transformation and cybersecurity solutions and services, announces a strategic joint venture with Al-Suwaiket Group, a leading conglomerate with diversified interests in energy, construction, and technology, reinforcing Noventiq's commitment to expand across Saudi Arabia. To lead the Joint Venture and future growth of Noventiq Saudi Arabia, the company has appointed Mohamed Mostafa as Regional General Manager. Mr. Mostafa will be relocating to Saudi Arabia to start working on the business strategy and talent growth for the market.

The joint venture will have a clear focus on Noventiq’s three-dimensional growth strategy of market, portfolio and sales channel expansion. The joint venture will also be supported by a strategic network of offices, including a new office set to open in 2024 in Dammam, alongside the existing Riyadh office, establishing a robust presence across this market.

The joint venture is committed to boost the digital capabilities of Saudi Arabian companies and industries, offering a comprehensive portfolio of services of digital transformation, cybersecurity, and Data & AI, including Noventiq’s proprietary AI solutions like Weaver AI, Fintense, and Selecta, alongside global technologies such as Microsoft Copilot. These initiatives are designed to elevate organizational efficiency and productivity, aligning with Saudi Vision 2030's goals for digital transformation.

As General Manager for this region, Mohamed Mostafa will oversee the markets of Saudi Arabia and Egypt, focusing on driving growth, fostering innovation, and leading strategic initiatives aimed at leveraging the region's dynamic technology landscape. Under his leadership, Noventiq expects to invest in the region to support its ambitious expansion plans and meet the growing demand for advanced digital transformation and cybersecurity solutions.

Hervé Tessler, CEO of Noventiq, commented: "Our collaboration with Al-Suwaiket Group and the establishment of this joint venture are key milestones in Noventiq's journey towards becoming a leading force in the Saudi Arabia’s digital transformation sphere. This market’s accelerated growth represents a great opportunity for Noventiq, and I am really glad to have Mohamed to lead this joint venture and our expansion project across Saudi Arabia.”