# iot squared to acquire 100% of Machinestalk

iot squared, a joint venture between PIF and stc Group, signed a binding agreement to acquire 100% of Machinestalk, an IoT applications provider in Saudi Arabia. The transaction is subject to regulatory approvals.

- Type: Acquisition
- Announced: 2023-08-13
- Where: Saudi Arabia
- Status: announced
- Products: IoT applications
- Sectors: [Automation and Robotics](https://endata.com/sectors/automation-robotics.md)

## Companies

- [STC](https://endata.com/companies/30117.md) (partner)
- [Public Investment Fund](https://endata.com/companies/47932.md) (investor)
- [iot squared](https://endata.com/companies/72027.md) (acquirer)
- [Machinestalk](https://endata.com/companies/72028.md) (target)

## Sources

- [pif.gov.sa](https://www.pif.gov.sa/en/news-and-insights/newswire/2023/pif-backed-iot-company-in-agreement-to-acquire-machinestalk/), 2023-08-13: "We are pleased to announce the signing of a binding agreement to acquire 100% of Machinestalk."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.