Riyadh – Mubasher: Digital solutions provider Elm Company has signed a preliminary term sheet to increase its ownership in Smart National Solutions (SNS) to 40%, according to a press release.
This strategic move, which was announced on the sidelines of the LEAP 2025 event in Saudi Arabia, will facilitate the integration of both companies' digital solutions while accelerating the Kingdom’s ongoing digital transformation efforts.
Meanwhile, the decision demonstrates Elm's dedication to supporting local tech firms and empowering them to pursue sustainable growth through technical collaboration and improved service offerings.
The investment will also enhance Elm's ability to provide innovative solutions that meet the needs of various sectors.
Official Spokesperson and Executive Vice President of Marketing at Elm, Majed bin Saad Al Arifi, said: “By partnering with Smart National Solutions, we aim to further expand our technological capabilities and bolster our market position.”
Al Arifi added: “This decision, while fully aligned with Elm's growth strategy, also underscores our commitment to fostering transformation and innovation in the technology sector."
Founded in 2016, Smart National Solutions (SNS) is a leading provider of systems integration, technology solutions, and consulting services. The firm boasts a diverse client base that includes prominent companies associated with the Public Investment Fund (PIF), government entities, and major players in the private sector.
Elm said it will continue to broaden its presence in the technology sector, utilising its integrated suite of digital solutions to promote innovation and sustainable growth, in alignment with the 'Saudi Vision 2030' strategy. Meanwhile, the increase of its equity ownership cements the commitment to enhancing its investment portfolio by backing tech companies that are driving digital transformation in the Kingdom.
The CEO of Smart National Solutions, Abdulmajeed Almousa, said: “[The strategic alliance with Elm] showcases the strong confidence that our investors have in our expertise as a digital solutions provider. With Elm as our strategic partner, we are committed to maximising the value offered to our clients and stakeholders."
As part of its expansion plans, Smart National Solutions has successfully secured projects from the Saudi Ministry of Health, the Ministry of Investment, Diriyah Gate Development Authority, and other key organisations.
It is worth noting that Elm has been a strategic sponsor of LEAP 2025, during which it signed other agreements with Etihad Salam Telecom Company in addition to Klues.AI to advance digital transformation in Saudi Arabia.
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