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|18 December, 2018

Saudi Aramco, Saudi Information Technology Company to form venture to invest in tech sector

The target market for the firm will be Saudi Arabia and the GCC countries

The logo of Saudi Aramco is seen at Aramco headquarters in Dhahran, Saudi Arabia May 23, 2018.

The logo of Saudi Aramco is seen at Aramco headquarters in Dhahran, Saudi Arabia May 23, 2018.

REUTERS/Ahmed Jadallah

DUBAI - Saudi Aramco and the Saudi Information Technology Company signed an agreement to set up a joint venture firm that will develop a platform to invest in high potential growth companies in the information, communication, and technology sector, Aramco said on Tuesday.

The target market for the firm will be Saudi Arabia and the GCC countries, the statement said.

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(Reporting by Hadeel Al Sayegh; Editing by Adrian Croft) ((Nafisa.Eltahir@thomsonreuters.com;))

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