◂ Announcements

Dec 29, 2020ACQUISITIONSaudi Arabia

SAMI acquires Advanced Electronics Company in Saudi defense deal

Saudi Arabian Military Industries (SAMI), a PIF subsidiary, announced the acquisition of Advanced Electronics Company (AEC). The purchase is expected to complete in Q1 2021, making AEC 100% Saudi-owned.

Status

Announced

Productsmilitary electronicsdefense systems

CompaniesSaudi Arabian Military Industries acquirer Public Investment Fund investor Advanced Electronics Company target

Sectors#Semiconductors and Industrial Electronics #Aerospace Components

“This deal strengthens SAMI’s presence in the strategically important defense industries market and supports its plans to transfer and localize the military industries.”businesstoday.me

1 source
businesstoday.meSAMI Acquires Advanced Electronics Company - Business Today Middle EastDec 29, 2020

Summarized from public sources; check the original articles before acting on it.

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