KARACHI: A leading Saudi investor group in the IT and technology sector has joined hands with SuperNova Solutions, a major Pakistani enterprise resource planning and business solutions provider, the Pakistani firm said on Monday.
The partnership took place on the sidelines of the LEAP tech convention taking place in Riyadh from Mar. 4-7 and was welcomed by Ahmed Farooq, Pakistan’s ambassador in Saudi Arabia.
“It is a pivotal investment into Pakistan’s IT industry and SuperNova Solutions,” the company said in a press release, quoting the envoy.
“Saudi Arabia will be the flag bearer of Pakistan’s IT capabilities on a world stage.”
Farooq specifically thanked Khaled Saad Al-Sabti, a key investor from Saudi Arabia in IT & tech sectors, for investing into Pakistan’s IT sector:
“His trust and confidence in Pakistan will bring a renewed attention of the world investors into Pakistan’s IT industry.”
Farooq inaugurated the Pakistan Pavilion at LEAP 2024 on Monday afternoon and witnessed the signing ceremony of the equity partnership between SuperNova Solutions and a group of influential Saudi investors.
“The investment is one of its kind and a substantive leap forward in Pakistan’s investment landscape,” Rashid Hakeem, SuperNova’s Pakistan chief executive, said. “This investment makes us go global; establish a strategic presence in the regional IT market and encourage other investors to embark on more partnerships, collaborations and JVs.”
He said the partnership would enhance Pakistan’s competitiveness, digital transformation and ERP implementation competencies, services and exports.
Saudi investor Muhammad Ghazali highlighted the “strategic rationale” behind the move, saying SuperNova would become an important part of the Saudi group’s investment portfolio.
“Saudi Arabia is rapidly progressing toward its Vision 2030 goals and digital transformation has emerged as a key enabler, revolutionizing industries; government services and societal interactions,” Ghazali said.
“This acquisition aligns perfectly with our vision of driving digital transformation and innovation. By combining our resources and expertise; we are well-positioned to help businesses harness the power of ERP solutions to achieve their strategic objectives.”
