Riyadh - Mubasher: Saudi Aramco and Raytheon have signed a Memorandum of Understanding (MoU) to establish a joint venture company that will develop and provide cybersecurity services in Saudi Arabia and the region.

The joint venture will market and provide integrated defensive cybersecurity software and hardware capabilities, and perform research and development activities, and will increase the cybersecurity protections available to Saudi Aramco, its suppliers, customers and affiliates.

“We are excited about the joint venture which will support the Kingdom’s Vision 2030 by creating highly skilled jobs for Saudis in the cybersecurity sector and will support the foundation for Saudi Arabia’s economic development,” said Saudi Aramco senior vice president of finance and Development Khalid Al-Dabbagh.

“Demand for cybersecurity services is expected to grow as companies move further into the digital space and embrace technologies such as Internet of Things and big data. The partnership with Raytheon will help strengthen cybersecurity and enhance its infrastructure in Saudi Arabia and the broader region,” he added.

Meanwhile, the President of Raytheon Intelligence, Information and Services, Dave Wajsgras said that the MOU is an important step in creating a joint venture that we see becoming the cornerstone of cybersecurity defenses in the region, noting that “cybersecurity is critical to national and global security”.