{"id":42994,"date":"2023-08-13T10:24:22","date_gmt":"2023-08-13T07:24:22","guid":{"rendered":"https:\/\/saudishopper.com.sa\/en\/?p=42994"},"modified":"2026-03-28T03:50:29","modified_gmt":"2026-03-28T00:50:29","slug":"iot-squared-cements-its-position-as-national-iot-champion-through-acquisition-of-machinestalk","status":"publish","type":"post","link":"https:\/\/saudishopper.com.sa\/en\/iot-squared-cements-its-position-as-national-iot-champion-through-acquisition-of-machinestalk\/","title":{"rendered":"iot squared cements its position as national IoT champion through acquisition of Machinestalk"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Driven by the aspirations of the PIF and stc group&#8217;s expansion and growth strategy<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Acquisition supports<em>&nbsp;<\/em>&nbsp;the PIF ambitions and&nbsp;&nbsp;stc Group\u2019s mission to drive the digital transformation of the MENA region.<\/li>\n\n\n\n<li>iot squared&nbsp;accelerates to new heights&nbsp;by signing a binding agreement to acquire 100% of one of the leading Saudi IoT solutions provider, Machinestalk.<\/li>\n\n\n\n<li>iot squared plays a pivotal role in adopting iot technologies to enable Vision 2030\u2019s promising sectors.<\/li>\n\n\n\n<li>The acquisition will accelerate iot squared\u2019s growth and expand&nbsp;its capabilities across the IoT value chain.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Riyadh, Saudi Arabia, 13 August 2023 \u2013<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">stc Group, an engine of digital transformation in the MENA region, announces that iot squared, a joint venture between the Public Investment Fund&nbsp;&nbsp;(PIF) and stc group, is completing a highly successful first year since its establishment with signing a binding agreement to acquire 100% of Machinestalk, a pioneer provider of IoT solutions and applications inSaudi Arabia. The acquisition will accelerate iot squared&#8217;s growth and solidify its position as the leading provider of IoT solutions in the region.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">iot squared delivers industry-leading IoT solutions , which provides real-time insights into Saudi Arabia. Since its establishment in 2022,&nbsp;iot squared has played a significant role in the adoption of IoT technologies in various sectors and has collaborated with industry leaders to advance the IoT eco-system in the Middle East to revolutionise multiple sectors and advance the local&nbsp;digital transformation plans.&nbsp;iot squared supports businesses operating across three key verticals, including smart cities, Industry 4.0, and smart mobility and logistics, by supplying IoT&nbsp;technologies, such as IoT sensors , platforms, and applications to improve and develop the performance and productivity of industrial processes with the power of real-time insights.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The acquisition represents an important milestone in the collaboration between PIF and stc as this reflects the major investment strategy in the products and services in ICT industry, including investments in digital Clouds, Cybersecurity, Fintech and digital entertainment. These investments contribute to driving digital transformation and contribute to&nbsp;Saudi Arabia\u2019s Vision 2023 in leading digitisation in the region.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Machinestalk is one of the largest Saudi companies in the IoT domain, founded in 2015 as a subsidiary of NOMD Holding. It has actively contributed to the Kingdom\u2019s telematics domain over the past years, delivering diversified solutions&nbsp;focused on&nbsp;Smart Mobility, with additional capabilities in Smart&nbsp;Buildings &amp; Facilities, Smart Cities, and Industrial IoT.&nbsp;It&nbsp;is active across the IoT stack, with core capabilities in IoT platforms and Applications, and additional capabilities in IoT sensors, IoT Network, and Services.\u200b<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Othman Al Dahash, CEO of iot squared, said:<\/strong>&nbsp;\u201cWe are pleased to announce&nbsp;signing a binding agreement to acquire 100% of Machinestalk,&nbsp;which steers to an exciting new chapter in our growth story. As we continue to strengthen our position as the national IoT champion, in line with our BOLD strategy, we are eager to play a pivotal role in supporting Saudi Arabia\u2019s&nbsp;ambitions to lead the region\u2019s digital transformation and adoption of emerging technologies. Furthermore, by fully realizing the potential of IoT and unlocking the value of connected things, we are committed to enabling a \u2018connected Kingdom\u2019 and turning the knowledge-based economy from a concept into reality.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The acquisition will augment iot squared\u2019s capabilities across the IoT value chain. Machinestalk\u2019s applications complement iot squared\u2019s&nbsp;three key verticals: smart cities, Industry 4.0, and smart mobility and logistics, through which the Company supports governments, enterprises, and SMEs across the MENA region to advance the adoption of smart solutions and IoT technologies, positioning stc Group and Saudi Arabia as&nbsp;a regional hub for IoT in MENA.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Furthermore, the acquisition will unlock value for iot squared through Machinestalk\u2019s strong field services capabilities, technology, and delivery teams,&nbsp;Proprietary IoT platforms, internal development capabilities,&nbsp;local and&nbsp;international partner and&nbsp;customer relationships, inc.&nbsp;large government entities and a wide range of product offerings. With these capabilities and&nbsp;comprehensive solutions, iot&nbsp;squared will be the local IoT leader in KSA&nbsp;covering a wide range of focus use cases aligned with its commitment&nbsp;\u200b&nbsp;to accelerate the adoption of IoT in the region whilst enabling the public and private sectors to unlock value.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The transaction is subject to regulatory approvals from the relevant authorities and fulfilling transaction conditions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Driven by the aspirations of the PIF and stc group&#8217;s expansion and growth strategy Riyadh, Saudi Arabia, 13 August 2023 \u2013 stc Group, an engine of digital transformation in the MENA region, announces that iot squared, a joint venture between the Public Investment Fund&nbsp;&nbsp;(PIF) and stc group, is completing a highly successful first year since [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":42157,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_yoast_wpseo_meta-robots-noindex":"","_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","_pr_autopilot_social_copy":"","_yoast_wpseo_opengraph_title":"","_yoast_wpseo_opengraph_description":"","_yoast_wpseo_opengraph_image":"","_yoast_wpseo_opengraph_image_id":0,"_yoast_wpseo_twitter_title":"","_yoast_wpseo_twitter_description":"","_yoast_wpseo_twitter_image":"","_yoast_wpseo_twitter_image_id":0,"_yoast_wpseo_primary_category":19,"_extra_hide_author_box":"","_extra_featured_post":"","_partner_post_id":0,"footnotes":""},"categories":[443,22],"tags":[],"class_list":["post-42994","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-smart-devices","category-telecom","et-has-post-format-content","et_post_format-et-post-format-standard"],"yoast_head":"<!-- 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