IT Firm Aces Said to Weigh Stake Sale Amid Saudi Digital Push
Advanced Communications and Electronics Systems Co. (ACES), an IT firm based in Saudi Arabia, is reportedly considering selling a stake in the company. This potential move comes amid the kingdom's push to bolster its digital infrastructure and services. According to sources familiar with the matter, the stake sale would provide buyers with an opportunity to capitalize on the growing demand for digital services within Saudi Arabia. The company, which specializes in providing IT solutions, is said to be exploring the possibility of bringing in new investors to support its expansion plans. The news of the potential stake sale aligns with Saudi Arabia's broader efforts to diversify its economy and invest in the development of its digital infrastructure. As the kingdom seeks to reduce its reliance on oil and gas, the focus on digital transformation and the IT sector has become a priority.
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