The venture aims to expand the new company’s services, including generative AI security, to the Middle East and North Africa region in the future.
The Saudi market is poised to benefit from advanced cybersecurity solutions through a new venture established by a Public Investment Fund-owned company and Korean firm AhnLab.
Saad Al-Aboodi, CEO of SITE, said, “This new joint venture is one of many ambitious investments that SITE is developing. We recognise our strategic role to localise top-tier cybersecurity technologies in our country and the region as a whole, to address the ever-growing market dynamics and demands while maintaining the highest standards of excellence to our clients in both the public and private sectors.”
Suk-Kyoon Kang, CEO of AhnLab, said, “The establishment of this joint venture signifies a long-term cooperation based on the competitive strengths of both companies to grow together in the Middle East region.”
Through the new JV, we expect to jointly tailor our technologies, such as cybersecurity, cloud and AI, to the needs of the markets of the Middle East, including Saudi Arabia, and accelerate global growth,” Kang added.
The venture aims to expand the new company’s services, including generative AI security, to the Middle East and North Africa region in the future.
