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.
Manufacturing
UL Solutions and Aramco Plan to Collaborate on Joint Projects to Help Enhance Safety in Saudi Arabia
UL Solutions, a global leader in applied safety science, announced its collaboration with Aramco to explore opportunities to enhance safety through Aramco’s In-Kingdom Total Value Add (IKTVA) goals, which support Saudi Arabia’s Vision 2030 economic transformation plan.
Saudi Aramco is a member of the U.S.-Saudi Business Council.
Investment
PIF-Backed Scopely Acquires Pokemon GO Maker for $3.5 Billion
Scopely, a U.S.-based firm backed by Saudi Arabia’s Public Investment Fund, has signed a deal worth $3.5 billion (SR13.13 billion) to acquire the video game division of Niantic Labs.
U.S. Private Equity Firm Warburg Pincus to Explore Investment Opportunities in Saudi Arabia
U.S. private equity firm Warburg Pincus is exploring financial opportunities in Saudi Arabia through an agreement signed with Hassana Investment Co., reinforcing their strategic partnership.
Automotive
Tesla to Launch in Saudi Arabia in April
U.S.-based electric vehicle manufacturer Tesla will begin its operations in Saudi Arabia in April 2025, the company has announced.
Construction & Real Estate
U.S.-Based Turner Wins Project Manager Role on the World’s Tallest Jeddah Tower
U.S.-based Turner Construction has been appointed as the project manager for the under-construction Jeddah tower in Saudi Arabia, which will be the world’s tallest when completed.
Aerospace & Aviation
Saudi Arabia to Partner with U.S. Company to Manufacture and Export “Flying Taxis”
The American Doroni Aerospace company announced that it has decided, in partnership with Innovation Wings Industries (IWI), operating as Kingdom Aero Industries, to manufacture H1-X ‘flying car.’
ICT
Confluent, Inc., a data streaming platform provider, announced sccc by stc – a leading cloud services provider in Saudi Arabia – has joined the Confluent OEM Program as a managed service provider to make data streaming more accessible in Saudi Arabia.
Defense & Security
State Department OKs Saudi Purchase of $100 Million BAE Systems Inc. Rocket Kits
The U.S. Department of State has cleared a potential $100 million (SR375 million) foreign military sale to Saudi Arabia.
S.A.F.E. Structure Designs, a leading provider of aircraft maintenance stands and hangar equipment, has successfully delivered a custom-engineered maintenance solution for the Bell 429 helicopter to the Saudi Arabian Army.
Teledyne FLIR to Supply Long-Range Surveillance Systems to Saudi Arabia
Teledyne FLIR has secured a $7.8 million (SR29.25 million) contract to deliver long-range thermal surveillance systems and associated support services to Saudi Arabia.
Healthcare & Pharmaceuticals
Cytrellis Biosystems, a medical technology company specializing in novel aesthetic solutions, announced that it has received approval from the Saudi Food and Drug Authority to commercialize its groundbreaking ellacor® with Micro-Coring® technology in Saudi Arabia.
