By Stuart Wilson
Hailed as the first Polish-Arabian IT joint venture within Saudi Arabia, Warsaw-quoted IT services specialist ComputerLand has signed a memorandum of understanding to form a partnership with Yousef Ahmed Al-Gosaibi and Partners.
Hailed as the first Polish-Arabia IT joint venture within Saudi Arabia, Warsaw-quoted IT services specialist ComputerLand has signed a memorandum of understanding to form a partnership with Yousef Ahmed Al-Gosaibi and Partners, part of the Gosaibi Group conglomerate. The new company will focus on the implementation and integration of complex IT systems in a number of vertical markets including banking, telecoms, utilities and healthcare.
Trading under the name Al-Gosaibi ComputerLand, the new player in the Saudi IT services space has been established with initial capital of US$550,000. ComputerLand will hold a 51% stake in the new company and appoint three members of the five-man board as well as picking the CEO. ComputerLand estimates that the total Saudi IT market is worth US$4bn a year and will grow at close to 12% per year. The new company will look to target potential customers across the Persian Gulf.
ComputerLand is a major IT services player in Poland employing 1,200 staff and has been operating since 1991. The company provides a wide range of services including consulting, software production and implementation, systems integration and outsourcing. ComputerLand’s major vendor partners include Cisco, HP, IBM, Oracle and Sun.