AICTEC signs agreement with Armatura for product distribution in Saudi market

Logo of Advance International Company for Communication and Information Technology (AICTEC) 

Advance International Company for Communication and Information Technology (AICTEC) signed an agreement with Armatura Co. to obtain the exclusive distribution rights of the advanced Armatura products in the Saudi market.

The agreement is valid for three years. The agreement value depends on the value of the products purchased during the period between 2023 and 2025, extendable, AICTEC said in a statement to Tadawul.

AICTEC will exclusively distribute and develop the US-based Armatura’s products, which are a group of globally innovative security solutions that support cybersecurity, anti-theft and data penetration, encrypted communication data, biometric access control, time and attendance management, facial recognition, smart building automation, and artificial intelligence solutions for various industries.

A positive financial impact from this agreement is expected to appear at the end of the fourth quarter of 2023.

Armatura’s global and local commitment to excellence and investment in technologies that support the latest technologies in cybersecurity fully complement the future plans of AICTEC.

There are no related parties to the deal, AICTEC noted.