Saudi Information Technology Company, a PIF-owned company, announced at the Future Investment Initiative 2023 in Riyadh an agreement with the US-based Privafy Inc. to establish a new joint venture under the commercial brand METRAS. The JV will be specialized in the localization of world-class, next-generation cybersecurity solutions, including the launch of innovative extended detection and response offering.
The partnership aims to transfer and localize technologies and knowledge, build national capabilities in cybersecurity, and develop local technical content in line with the overarching objectives of the Public Investment Fund Program (2021–2025). The new JV is a testament to SITE’s position in the local and regional markets, leveraging its strategic partnerships to upskil local capabilities as befitting the market dynamics.
