RIYADH: The Saudi Arabian Military Industries Co. (SAMI) has announced that it has acquired the entirety of shares available in Advanced Electronics Co. (AEC).
The revelation came during a joint Saudi-British event in London, attended by the chairman of SAMI, Ahmad Al-Khatib, and the chairman of BAE Systems, Roger Carr.
AEC, based in Riyadh, provides modern electronics, manufacturing capabilities and repair and maintenance services in defense, information and communication technology, energy and cybersecurity at local, regional and international levels.
SAMI’s investment in AEC is part of its ongoing efforts to increase and strengthen local Saudi military industries in line with Vision 2030.
Al-Khatib said: “SAMI was established three years ago after the announcement of Vision 2030, and since then, we have made great progress.
“The agreement signed today marks a milestone in our journey as it will enable us to intensify our efforts to build a strong, dynamic and sustainable military industry in Saudi Arabia. SPA Riyadh
“Cyberdefense is an important component of the defense sector and, therefore, the acquisition of AEC places SAMI on the map of the global defense industry, supporting our ambitions in this sector, contributing to raising the proportion of local products, and stimulating economic growth in general.”
AEC will be the main structure of SAMI’s cyberdefense unit, while SAMI’s total number of employees will dramatically rise to 2,200 as a result of the acquisition.
In addition to facilitating the transfer of technology, promoting local production, and deepening maintenance, repair and overhaul processes, the acquisition will enable SAMI to develop its own hardware and software products to help achieve its strategic objectives for 2030.
Saudi Arabian Military Industries acquires electronics firm AEC
Saudi Arabian Military Industries acquires electronics firm AEC
- AEC will be the main structure of SAMI’s cyberdefense unit, while SAMI’s total number of employees will dramatically rise to 2,200 as a result of the acquisition
Saudi Arabia welcomes ceasefire agreement between Syrian Democratic Forces and Syria state
RIYADH: Saudi Arabia has welcomed an agreement between the Syrian state and Syrian Democratic Forces.
In a foreign ministry statement early on Monday, the Kingdom said it had welcomed an deal between Damascus and Kurdish Syrian Democratic Forces that was announced by the Syrian government on Sunday.
The agreement entails merging all SDF forces into the defense and interior ministries and means that Kurdish forces will redeploy to east of the Euphrates river.
The 14-point deal would also see the immediate administrative and military handover of Deir Ezzor and Raqqa governorates.
The Syrian state would regain control of all border crossings, oil fields, and gas fields in the region, with protection secured by regular forces to ensure the return of resources to the Syrian government, while considering the special case of Kurdish areas, the state news agency SANA reported.
The ceasefire comes after intense fighting between the SDF and government troops in Aleppo. But SDF troops have now pulled back from there and the Syrian army now controls most areas east of Aleppo.
The Saudi foreign ministry statement also thanked the US for the agreement. Washington is believed to have supported brokering the ceasefire between allies SDF and the Syrian government, who they have also backed diplomatically since the fall of long-time dictator Bashar Assad.
The Syrian state announced on Friday a raft of new directives to recognize Syrian Kurds, including making their language official and bolstering other rights for the minority group.
