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stc, US-based nile announce JV to boost NaaS service at LEAP 2024

stc, US-based nile announce JV to boost NaaS service at LEAP 2024
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Riyadh – Mubasher: Arabian Internet and Telecommunication Services Company (solutions), a subsidiary of Saudi Telecom Company (stc), inked a term sheet agreement with US-based nile.

The deal, penned on the slides of the third annual tech event LEAP24, aimed at creating a joint venture (JV) to boost the two parties’ market presence and service offerings.

Under the partnership, the two companies will offer secure and comprehensive enterprise network solutions (NaaS) to customers in Saudi Arabia and the MEA region, according to a press release.

The US-based firm will provide a new NaaS service to enhance system reliability and improve business operations by securing a cost-efficient subscription-based service model and AI-backed network management.

Omer Alnomany, CEO of solutions, commented: “Together, solutions and nile will introduce innovative network services that transform the digital infrastructure landscape across multiple sectors in Saudi and the region.”

”Through this strategic partnership, our new services will optimize operations, cut costs, and drive clients’ businesses toward growth,” Alnomany added.

Pankaj Patel, CEO and Co-Founder of nile, said: "The synergy between solutions by stc's regional expertise and nile's innovative approach aims to set new benchmarks for operational excellence in the ICT sector.”

The collaboration followed after the two entities’ exclusive partnership to deliver enterprise networking services to clients.

Last August, solutions participated in a global funding round developed by nile​, which raised $175 million from various investors.

Earlier this month, stc launched tali ventures to support innovative startups and bolster technological transformation.