Midad Holding, a subsidiary of Al Fozan, a leading group with diversified business interests in Saudi Arabia, has signed a joint venture (JV) agreement with Tech Mahindra, the company has said.
The JV, to be called Tech Mahindra Arabia, will be headquartered in Al Khobar.
Tech Mahindra Arabia will also have presence across other major cities in Saudi and will be functional post the regulatory approvals.
C.P. Gurnani, Managing Director and CEO, Tech Mahindra Limited, said that Saudi Arabia has been a focus market for Tech Mahindra and they are “excited” about the economic growth potential the region has.
“This joint venture will establish the company as a leading player in providing IT and ITeS solutions”, he said.
Additionally it will also provide an exciting career opportunity for the talented men and women in Saudi region,” Mr. Gurnani added.
“Part of Midad Holding’s model is to partner with global leaders providing game changing solutions that add value and address the challenges facing Saudi Customers.
“The purpose of the joint venture is to leverage Tech Mahindra’s global expertise in information technology while maximising local content,” Mohammed Al Baadi, Managing Director & CEO, Midad Holding, said.
G.B. Kumar, Vice-President and Geo Head, Middle East and North Africa, Tech Mahindra Limited said: “Tech Mahindra Arabia will pave the way for exponential growth by solving the business and technical challenges of customers from telecom, public sector, oil & gas, petrochemicals, utilities, manufacturing and BFSI segments.
“Our differentiating strengths in networking, mobility, analytics, cloud and security will be of key importance in bringing value to Saudi customers,” said Mr. Kumar.
