Midad Holding, a subsidiary of Al Fozan, a preeminent group with diversified business interests in Saudi Arabia announced that it has signed a Joint Venture (JV) agreement with Tech Mahindra, a specialist provider of connected solutions. The JV will be called Tech Mahindra Arabia. 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.
The regional strength of Midad Holding and the global connectivity of Tech Mahindra will fuse together in creating a synergic value proposition for customers in KSA.
Mohammed Al Baadi, Managing Director & CEO, Midad Holding, said, “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 maximizing local content.”
CP Gurnani, Managing Director and CEO, Tech Mahindra Limited, said, “Saudi Arabia has been a focus market for Tech Mahindra and we 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. Additionally it will also provide an exciting career opportunity for the talented men and women in Saudi region.”
GB Kumar, Vice President and Geo Head, Middle East and North Africa, Tech Mahindra Limited, said, “Saudi Arabia is the region’s largest economy. 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.”
Tech Mahindra Arabia will provide gamut of Information Technology (IT) and IT-enabled services (ITES) to cater to the established and emerging sectors in KSA. The solutions would aim to provide services in the areas of consulting, application development and management, network services, integration, engineering, managed services, remote infrastructure management, operational & maintenance services and business process outsourcing. Tech Mahindra has a significant presence in the KSA region since 2006 whereby it continues to provide solutions to its global and local customer base.
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