The following is a summary of all announcements from the past month regarding investment deals, partnerships, and other commercial news between U.S. and Saudi companies.
Defense & Security
SAMI to Become Authorized Repair Center for C-130 Hercules Aircraft, Airbus Rotorcraft Platforms
Aerospace and defense firm Saudi Arabian Military Industries (SAMI) will become an authorized center for C-130 Hercules aircraft and Airbus rotorcraft platforms as it extends its maintenance, repair, and overhaul capabilities. The Public Investment Fund-owned company signed two agreements with major original equipment manufacturers Lockheed Martin and Airbus Helicopters, the Saudi Press Agency reported.
Lockheed Martin and SAMI are members of the Business Council.
U.S. Approves $2.8 Billion Aircraft Logistics Support Sale to Saudi Arabia
The U.S. State Department has approved the possible sale of system logistics and sustainment support to Saudi Arabia. No prime contractor is assigned for the deal as there will be “various contractors associated with the provision of equipment and services involved with this case,” the State Department stated.
ICT
Saudi-Based WakeCap Acquires Valley-Based Crews by Core
WakeCap Technologies, a construction management and IoT platform, has acquired Crews by Core, a Silicon Valley-based AI-powered project delivery platform for the construction industry. WakeCap will also open an R&D headquarters in Silicon Valley to solidify its global construction tech leader position.
WakeCap Technologies is a member of the Business Council.
Ellucian, a Virginia-based higher education technology solutions provider, announced a new strategic partnership with MDS for Computer Systems Co., a global provider of IT solutions and part of the MDS System Integration Group, to accelerate the adoption of cloud technology by higher education institutions across Saudi Arabia.
Water & Power
Fluence Awarded $3.6 million Contract in Saudi Arabia
Fluence Corporation Limited has announced that it has secured a $3.6 million contract to provide a containerized ultra-pure water treatment and demineralization system for the Saudi Electric Company’s Rabigh Power Plant. Work is expected to commence immediately with system start-up anticipated by May 2025.
Aviation and Aerospace
Delta Air, Riyadh Air Unveil Strategic Partnership
Riyadh Air has partnered with U.S. carrier Delta Air Lines as the Saudi startup carrier grows its potential network ahead of launching commercial operations next year, the airlines said on Tuesday. Riyadh Air, owned by Saudi sovereign wealth fund PIF, will be a second national airline, based in the capital Riyadh, alongside existing flag carrier Saudia, based in Jeddah.
