STC-GROUP
stc Group, the leading national digital enabler announced the establishment of “Alibaba Cloud” in Riyadh, KSA, for high-capacity cloud services in partnership with the Chinese technology giant, “Alibaba Group”, eWTP Arabia for Technical Innovation Ltd., the Saudi Company for Artificial Intelligence (SCAI), and the Saudi Information Technology Company (SITE).
The establishment of the new company in the Saudi capital, Riyadh, came in response to the significant increase in demand for cloud computing services and solutions in the region. The company will provide advanced cloud computing services to companies operating in the Kingdom of Saudi Arabia, ensuring that they employ the highest standards of security and protection.
The new company’s capital will amount to SAR 894 million, and the new company will benefit from the distinguished position of stc Group in the services and technology solutions sector and will employ the best talent and expertise to support the local capabilities of the Kingdom and enable it to enhance digital development and build an advanced ecosystem capable of meeting the future needs of the Kingdom. Alibaba, one of the best providers of cloud computing services and solutions in the world, will offer a wide range of cloud computing services and solutions, a step that will enable local companies and institutions to digitize their businesses, employ the technologies of the Fourth Industrial Revolution, raise work standards and enhance businesses.
In line with the Kingdom’s efforts to enhance economic diversification and stimulate investment opportunities in the cloud computing sector, the new company will contribute to providing quality jobs, transferring knowledge and expertise to the Kingdom, and ensuring a safe work environment for entrepreneurs in the region.
stc’s investment with Alibaba for cloud computing services, in cloud computing solutions in Riyadh, reflects the company’s future vision and its great role in pushing digital transformation efforts in the Kingdom of Saudi Arabia, and its commitment to forging strong partnerships with leading technology companies around the world in line with the Kingdom’s 2030 vision to attract foreign and international investments into the Kingdom, creating a secure environment for entrepreneurs, and enhancing information security by protecting data internally in the Kingdom.
The establishment of the company specialized in cloud computing services and solutions in Saudi Arabia will contribute to developing the Kingdom’s digital infrastructure and preparing it to provide the latest digital data storage services and solutions and ensure its protection and security, which will enhance the Kingdom’s ability to provide cloud computing services to global companies.
*Source: AETOSWire
View source version on businesswire.com: https://www.businesswire.com/news/home/20220525005407/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
SIAL Paris 2026 : The Entire Food Industry in One Place – An Unmissable Event for Professionals8.12.2025 09:00:00 CET | Press release
SIAL Paris 2026 is more than ever the world’s must-attend food industry event With less than a year to go, SIAL Parisonce again stands as a key international gathering for food industry professionals. With 85% of exhibition space already booked, the show demonstrates very strong momentum and appeal. SIAL Paris will welcome 295,000 professionals from 200 countries across a stunning 280,000 m² of exhibition space, covering all sectors of the food industry. Innovation at the core of global food transformation In a context marked by major demographic, environmental and geopolitical challenges, SIAL Paris stands as THE hub where innovation drives action, business, and transformation. It brings across all sectors’ ideas, projects, and solutions that address today’s challenges, all while inspiring food business around the world. As in every edition, the show will offer a unique immersive experience, facilitating meaningful meetings and business opportunities. SIAL Paris serves as the global i
Merz Therapeutics to Present Broad Range of Clinical, Real-World and Mechanistic Data at TOXINS 20268.12.2025 08:00:00 CET | Press release
Merz Therapeutics to present more than 20 abstracts and posters at the TOXINS 2026 8th International Conference, taking place January 14-17 2026 in Madrid, Spain. Merz Therapeutics, a leading player in neurology-focused specialty pharma, today announced that the company will present more than 20 clinical and non-clinical abstracts and posters spanning spasticity, movement disorders, and neurotoxin science at the TOXINS 2026 8th International Conference, taking place January 14–17, 2026, in Madrid, Spain. These presentations underscore the company’s commitment to addressing unmet needs in neurological disorders. “Our research reflects a relentless focus on improving patient outcomes through innovation in neurotoxin science,” said Dr. Stefan Albrecht, Chief Scientific and Medical Officer at Merz Therapeutics. “By presenting these new data at TOXINS 2026, we aim to foster scientific exchange and advance treatment strategies that address real-world challenges for patients and clinicians.”
Galderma Welcomes Increased Equity Investment From L’Oréal8.12.2025 07:05:00 CET | Press release
L’Oréal to acquire an additional 10% stake in Galderma recognizing its scientific leadership in dermatology and long-term growth potential Ad hoc announcement pursuant to Art. 53 LR Galderma Group AG (SIX:GALD), the pure-play dermatology category leader, today announced that L’Oréal Groupe intends to increase its equity investment in the company, acquiring an additional 10% stake from Sunshine SwissCo GmbH (a consortium led by EQT, Abu Dhabi Investment Authority (ADIA), and Auba Investment Pte. Ltd., acting as sellers). Following the transaction, which is subject to customary approvals, L’Oréal’s total shareholding in Galderma will rise to 20%, building on its initial investment made in August 2024. The transaction is expected to close in Q1 2026. In connection with this increased investment, Galderma will consider nominating two non-independent board candidates from L’Oréal, replacing the board members representing the consortium led by EQT, at the 2026 Annual General Meeting. Additio
Ant International Wins Champion of NeurIPS Competition of Fairness in AI Face Detection8.12.2025 04:37:00 CET | Press release
The Challenge: Deepfakes undermine both the accuracy and fairness of AI face detection due to variations in human features.The Technology: Ant International’s AI model uses a novel ‘Mixture of Experts’-based Adversarial Debiasing approach to achieve superior fairness and accuracy across diverse demographics.The Impact: This advancement strengthens payment security, offering robust protection against deepfake fraud and enhancing eKYC compliance globally. Ant International, a leading global digital payment, digitisation, and financial technology provider, has won first place at the NeurIPS Competition of Fairness in AI Face Detection. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251207210856/en/ Ant International’s solution takes top spot at the NeurIPS Competition of Fairness in AI Face Detection, emerging first among over 2,100 submissions from 162 teams globally. AI Fairness enhances Financial Security Studies by the Nati
Sonrotoclax Data at ASH 2025 Confirm Foundational Potential Across B-cell Malignancies8.12.2025 00:00:00 CET | Press release
Novel BCL2 inhibitor sonrotoclax monotherapy demonstrates deep and durable clinical responses in R/R MCL and R/R CLLSonrotoclax in combination with BRUKINSA demonstrated rapid MRD negativity in treatment-naive CLL, regardless of high-risk features BeOne Medicines Ltd. (Nasdaq: ONC; HKEX: 06160; SSE: 688235), a global oncology company, today announced new data on sonrotoclax, a next-generation investigational BCL2 inhibitor, demonstrating meaningful clinical benefit as monotherapy and in combination across B-cell malignancies. These data were featured at the 67th American Society of Hematology (ASH) Annual Meeting & Exposition in Orlando, Florida. The five presentations highlight durable responses in heavily pretreated patients with relapsed/refractory (R/R) mantle cell lymphoma (MCL) and additional studies showing deep, rapid, and sustained undetectable minimal residual disease (uMRD) rates with sonrotoclax-based combinations in patients with treatment-naive chronic lymphocytic leukemi
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom