Elm signs preliminary term sheet to increase ownership of Smart National Solutions
Elm, a leading digital solutions provider, signed a preliminary term sheet to increase its ownership of Smart National Solutions (SNS) to 40 percent. This strategic move will facilitate the integration of both companies’ digital solutions, accelerating Saudi Arabia’s ongoing digital transformation efforts.
Founded in 2016, Smart National Solutions (SNS) is a leading provider of systems integration, technology solutions, and consulting services. The firm boasts a diverse client base that includes prominent companies associated with the Public Investment Fund (PIF), government entities, and major players in the private sector.
The recent decision demonstrates Elm’s dedication to supporting local tech firms and empowering them to pursue sustainable growth through technical collaboration and improved service offerings. Additionally, this investment will enhance Elm’s ability to provide innovative solutions that meet the needs of various sectors.
Majed bin Saad Al Arifi, the Official Spokesperson and Executive Vice President of Marketing at Elm, said: “By partnering with Smart National Solutions, we aim to further expand our technological capabilities and bolster our market position. This decision, while fully aligned with Elm’s growth strategy, also underscores our commitment to fostering transformation and innovation in the technology sector.”
As part of its expansion plans, Smart National Solutions has successfully secured projects from the Ministry of Health, the Ministry of Investment, Diriyah Gate Development Authority, and other key organisations. The company’s new vision seeks to expand its services, products, and applications in data analytics, artificial intelligence (AI), and SAP system integration, while exploring new markets to support its long-term growth.
Abdulmajeed Almousa, CEO of Smart National Solutions (SNS), stated: “We are honoured to establish this strategic alliance with Elm, which marks a significant milestone on our journey towards expanding the organisation’s digital offerings. Additionally, it showcases the strong confidence that our investors have in our expertise as a digital solutions provider. With Elm as our strategic partner, we are committed to maximising the value offered to our clients and stakeholders.”
The move reflects Elm’s commitment to enhancing its investment portfolio by backing tech companies that are driving digital transformation in the Kingdom. Through similar strategic partnerships, Elm will continue to broaden its presence in the technology sector, utilising its integrated suite of digital solutions to promote innovation and sustainable growth, in alignment with the ‘Saudi Vision 2030’ strategy.
Last Updated on 6 hours by News Desk 1
