AICTEC sets up LLC for tech, cybersecurity services

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

Advance International Company for Communication and Information Technology (AICTEC) finalized the procedures related to establishing a new branch specializing in technology, cybersecurity, and software development.

This is through the incorporation of a new 100%-owned single-person limited liability company (LLC), called Rona Technology Co., with SAR 100,000 in capital, according to a statement to Tadawul today, July 22.

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The new LLC will handle all of AICTEC’s operations related to technology services, cybersecurity, and programming, it added.

This step is deemed part of AICTEC’s strategy to restructure its operating segments in a way that enhances focus on core business activities, according to the company.

It also noted that no material financial impact would reflect on its financial statements as a result of the move.

According to the statement, all procedures related to the issuance of the commercial register and articles of incorporation have been completed.

Accordingly, Rona Technology has been set up as an independent, single-person LLC, fully owned by AICTEC.

The company will announce any future developments in due course.