Internet of Things Technologies Company, known as iot squared, a joint venture between Saudi Arabia’s Public Investment Fund and stc Group, has signed a memorandum of understanding with Rockwell Automation, the world’s largest company dedicated to industrial automation and digital transformation. The collaboration aims to enhance cooperation in the field of information and communication technology and IoT services in the Kingdom, which will further strengthen the Industry 4.0 ecosystem, in line with Saudi Vision 2030.
The MoU was signed by Othman Al-Dahash, chief executive officer of iot squared, and Sebastian Grau, regional vice president for sales in the Middle East, Turkiye and Africa at Rockwell Automation, at iot squared headquarters in Saudi Arabia on Dec. 12.
The agreement is a framework agreement between iot squared and Rockwell Automation to open dialogues on various aspects of development including new business opportunities and innovations within the industrial sector. The cooperation would pave the way for the smart and fast adoption of new technologies for the factories that would strengthen the Industry 4.0 ecosystem as a part of the digital transformation initiatives in the Kingdom.
Commenting on the agreement, Al-Dahash said: “Our collaboration with Rockwell Automation aims to accelerate the pace of digital transformation in the industrial sector in line with the Kingdom’s Vision 2030 objectives. This will be achieved by the adoption of IoT applications that enhance the factories’ operational efficiency, raise competitiveness and sustainability of the industrial sector, and increase production capacity and the quality of products that will reinforce the Kingdom’s position on the global map of Industry 4.0.”
Hussein Al-Khater, managing director, Saudi Arabia, at Rockwell Automation, said: “The strategic cooperation between Rockwell Automation and iot squared creates a solid beginning of a long-term relationship between the two parties. We are committed to supporting all our customers and partners in Saudi Arabia to accelerate the digital transformation journey and the development of the Industry 4.0 ecosystem, in line with the Kingdom’s Vision 2030.”
iot squared was established in partnership between Saudi Arabia’s PIF and stc to drive the rapid growth of IoT technologies across Saudi Arabia that would create new investment and job opportunities in the market. It also aims to equip the target sector to achieve the fourth industrial revolution by enabling autonomous technologies, digital twins, sensors and other advanced technologies in the field.