solutions by stc and Devoteam Global Group Forge MOU for Investment and Collaboration Ventures

solutions by stc issued a press release (2/8) announcing the signing of a memorandum of understanding with Devoteam Global Group, a leading IT consulting firm, aiming to leverage global investment and foster opportunities for collaboration in technology and other related domains.

According to the release, the agreement follows and builds upon the acquisition by solutions of a 40% stake in Devoteam Middle East last week. The acquisition was initiated during HRH the Crown Prince's visit to France in June last year, during which economic cooperation and investment opportunities were discussed. Under the memorandum, the release said, the two parties will “collaborate to explore and capitalize on common markets and assess cooperation and investment prospects within the dynamic ICT landscape across the region and globally”.

The collaboration also aims to combine the experience and resources of the parties for mutual benefit. The agreement was signed by solutions by stc CEO Omer Alnomany and Devoteam Group CEO Stanislas de Bentzmann.

According to the release, the strategic alliance will empower the two parties to harness extensive digital transformation and technology expertise, and integrate it with global insights, consulting, and investment opportunities.