PIF-owned Elm seeks expansion through acquisitions, partnerships with private sector

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RIYADH: Saudi Arabia’s PIF-owned digital security company Elm plans to cooperate with the private sector in the field of digital solutions, “as it is the largest beneficiary of the data we provide in the form of services,” its CEO told Asharq.

The firm is studying a number of acquisitions as well, Abdulrahman Al-Jadhai said, adding it will not sell data directly.

This comes as Elm seeks to expand by focusing on entering new markets and establishing new partnerships, Al-Jadhai said.

Having raised $820 million in proceeds from an initial public offering, the company made its market debut on Saudi Arabia’s main stock index, TASI, on Wednesday.

Based in Riyadh, Elm provides secure e-business services and information technology solutions to private and public sector businesses in the Kingdom.

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