Purity inks resale, joint venture agreement with AI firm

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Purity Tech Co. signed, on May 13, a reselling, business partnership & corporate venture building agreement with Velents.ai, an artificial intelligence company, according to a filing to Tadawul.

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The agreement comprises the joint development of AI products tailored to the Saudi market, enabling these solutions to be offered under Purity’s identity, leveraging Velents' advanced technologies.

It also provides exclusive access to over 70 government and private entities, with the potential to expand the exclusivity agreement with mutual consent. In addition, several advanced AI products are now ready for the Saudi market, the statement added.

This partnership is a strategic move aligned with Purity’s vision to expand its AI portfolio, accelerate digital transformation, strengthen internal capabilities, and contribute to the Kingdom’s broader goals for technological empowerment, the statement indicated.