TalkPool

In this photo: Mr. Magnus Sparrholm Chairman Talkpool Group & Mr. Ahmed Umar representing the buyers at the signing ceremony

Under the new arrangement, Talkpool will reduce its shareholding from 100% to 19%. As businesses with less than 20% ownership are not consolidated under applied accounting standards, the Saudi operation will no longer be consolidated into the Group's financial reporting.

The new Saudi partners bring strong financial capabilities and an extensive local contact network to the partnership. Talkpool will support growth in the Saudi market through technology solutions and human resources provided from its hub in the region Pakistan and through its global entities.

Business Background and Strategy Alignment
Talkpool has maintained a presence in Saudi Arabia over recent years with a small team of consultants. However, the company had previously refrained from making the substantial financial investments required to fully develop the Saudi business. This partnership represents a strategic shift that aligns with Talkpool's broader strategy to focus resources on developed markets in Europe and North America while leveraging local partnerships for growth in emerging markets.
The Saudi business is positioned for rapid growth in the coming years, and all parties have committed to working closely together to capitalize on the expanding market opportunities in the Kingdom's technology sector.
Speaking at the occasion Mr. Magnus Sparrholm, said “We are excited to embark on this new journey, combining our cutting-edge technology solutions and global expertise with the strong local presence and financial strength of our Saudi partners. Together, we are confident this collaboration will drive success, foster technological growth, and create lasting value for all stakeholders and our customers in Saudi Arabia”

Mr. Ahmed Umar remarked, “This new partnership with Talkpool marks a pivotal moment in our commitment to advancing the Kingdom's digital landscape. We're not just investing in a company; we're investing in a future where innovative technology solutions become the backbone of our strategy. The collaboration between Talkpool's global tech leadership and our strong local presence and creates a powerful engine for growth. We are eager to work together to accelerate development and deliver transformative value to the Saudi market.”

Market Information
The Saudi Arabian technology market presents exceptional growth opportunities for companies with advanced technology solutions. Valued at over $40.9 billion and constituting 4.1 percent of the Kingdom's Gross Domestic Product (GDP), Saudi Arabia's Information and Communications Technology (ICT) market is the largest and fastest growing in the Middle East and North Africa (MENA) region.

This growth is underpinned by Saudi Arabia's Vision 2030 initiative, which includes a $147 billion push for digital transformation across multiple sectors. Talkpool's expanded service portfolio will include Intelligent Automation and Autonomous Systems Solutions, positioning the company to capitalize on the Kingdom's increasing demand for advanced digital technologies.