Riyadh: Saudi Arabia-based solutions by stc, announced its participation in a global investment round in the American company "nile", a leading provider of secure enterprise network services, with a value of USD 175 million from various investors.
As the leader of the ICT sector in the Kingdom, "solutions" is keen to seize investment opportunities in emerging technologies in order to expand its portfolio of services and provide innovative technology solutions to its customers in the Kingdom and the region, and to achieve the best value for investors.
Eng. Muataz Aldharrab, Chief Strategy Officer of solutions by stc, explained that this investment reflects the strategy of "solutions" and stc Group to grow and expand basic services and emerging technologies that enable customers to increase operating efficiency and reduce costs, noting that nile was able through its team and expertise to change the concepts of providing secure enterprise network services NaaS and gained customer trust in record time.
Bankaj Patel, CEO and Co-Founder of nile, praised the confidence of "solutions", the leader in the ICT market in the Kingdom, stressing nile's keenness to build a strategic partnership to provide quality and innovative technical services to our customers in the Kingdom and the region.
The announcement of solutions' investment in nile comes just months after the two companies announced the signing of an exclusive strategic partnership agreement to provide secure enterprise networking services to customers in Saudi Arabia, Kuwait, Bahrain, Oman and Egypt.