In May 2024, Saudi Arabias Public Investment Fund (PIF) announced the launch of Neo Space Group (NSG), an entity tasked with developing the Kingdoms local capabilities and boosting its position ...
PIF will hold a controlling stake of 53.99%, with STC retaining a significant 43.06% ownership.
The acquisition supports the Public Investment Fund ambitions and STC Groups mission to drive the digital transformation of the MENA region.
The satellite connectivity will account for more than 80% of the regions revenue opportunities, and the MEA region overall will exceed $150bn in cumulative revenues between 2021 to 2031.
Saudi Arabia to benefit from new satellite IoT services developed by iot squared and OQ Technology.
The new executive brings more than 30 years of experience which will propel Savvy in its mission to grow the gaming sector.
PIF's stake in the Tokyo-based film and animation firm has risen from 5% to 6.03%.
As part of the deal, SEVEN will keep the brand name of AMC Cinemas - which in 2018 became the first cinema operator in the Kingdom.
Saudi Arabias sovereign wealth fund has acquired a 60% majority stake while Sultan Holding company and Prince Saud bin Fahad have snapped up 10% each.
The first joint venture of its kind will involve the development of advanced communications, sensors, and integrated mission systems.
The fund now has managed to secure a portfolio of nearly $10bn in US-listed stocks.
Jennifer Hanser will be responsible for ensuring Saudi Entertainment Ventures Company's investments and project executions are aligned with its vision to lead Saudi Arabias entertainment ecosystem.
