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FinancialNews
22-05-23
iot squared, AHOY Technology Collaborate to Boost Saudi Arabia's Mobility Sector
(MENAFN) Saudi Arabia's mobility sector is poised to benefit from a strategic collaboration between iot squared, backed by the Public Investment Fund (PIF), and UAE-based AHOY Technology. The partnership entails iot squared obtaining software licensing and resale rights for the comprehensive suite of IT products offered by AHOY. This joint venture between PIF and etc Group aims to leverage AHOY's technology infrastructure, software development kits, and programming interfaces to launch innovative solutions in the Kingdom.
Jamil Shinawi, CEO of AHOY, expressed optimism regarding the partnership with iot squared in an interview with Arab News. He emphasized the significance of the Internet of Things (IoT) in enabling advanced technological capabilities, stating that iot squared's purpose and world-class team position them to create remarkable outcomes. Shinawi highlighted his company's readiness to tackle complex projects and contribute to the success of Saudi Arabia's Vision 2030 plans.
AHOY is a unique deep-tech company that equips developers with tools to create efficient, streamlined, and automated solutions for movement operations through data, insights, and intelligence. Shinawi described the Kingdom's ongoing transformation as "amazing" across socioeconomic, industrial, and technological dimensions. AHOY perceives itself as a catalyst for this change, engaging in various projects, including those supported by PIF, in sectors such as aviation and mobility.
In line with their commitment to the Saudi market, AHOY has established a regional commercial office in Riyadh. This local presence reinforces their dedication to collaborating closely with stakeholders and leveraging their expertise to drive advancements in the Kingdom's mobility sector. Through this collaboration, iot squared and AHOY seek to contribute to the realization of Saudi Arabia's ambitious development goals by leveraging cutting-edge technology and innovative solutions.
MENAFN22052023000045014228ID1106285254
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