STC Group’s subsidiary, Solutions by stc, a leading provider of information technology services in Saudi Arabia and the wider region, has unveiled a significant partnership with US-based Nile, a trailblazer in the field of enterprise Network as a Service (NaaS). The collaboration was formalized through the signing of a term sheet agreement at “LEAP 2024,” a prominent annual tech event held in Riyadh, the capital of Saudi Arabia.
This strategic joint venture between Solutions by stc and Nile is aimed at fortifying their market presence and expanding their service offerings. The core focus of this collaboration is to deliver secure and comprehensive enterprise network solutions (NaaS) to clients across Saudi Arabia and the Middle East and Africa (MEA) region.
Nile’s NaaS service, a cutting-edge solution, enhances system reliability and streamlines business operations by providing clients with a cost-effective subscription-based service model and AI-powered network management.
Omer Alnomany, CEO of Solutions by stc, emphasized, “This move underscores our dedication to advancing our technological capabilities and service offerings. Through this strategic partnership, Solutions by stc and Nile will introduce innovative network services, revolutionizing the digital infrastructure landscape across various sectors in Saudi Arabia and the broader region. Our new services will optimize operations, reduce costs, and propel our clients’ businesses towards growth.”
Pankaj Patel, CEO and co-founder of Nile, also commented on the collaboration, stating, “The formation of the joint venture between Solutions by stc and Nile represents a strategic expansion that enhances Nile’s market presence in Saudi Arabia and the region. 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.”
This announcement follows the previous exclusive partnership declaration between the two companies to provide enterprise networking services. Additionally, Solutions by stc’s participation in a global funding round for Nile’s next-generation “network as a service” technology further solidifies the partnership. The funding round, conducted in August, successfully raised $175 million from various investors.
“Solutions by stc,” recognized as a pioneer in information technology services in the Kingdom, has been operational for several decades. The company delivers a comprehensive range of integrated technology solutions, facilitating the digital transformation of public and private sectors. With 1,500 employees, including 1,000 certified experts in vital technologies and business areas, Solutions by stc caters to a diverse clientele in key sectors such as financial services, healthcare, and education.
