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Logo of Advance International Company for Communication and Information Technology (AICTEC)
Advance International Company for Communication and Information Technology (AICTEC) approved a comprehensive strategic plan to restructure its technical and operational divisions, the company said in a statement to Tadawul.
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The move is part of AICTEC’s efforts to improve operational efficiency and deepen specialization in technical and operational services, in line with its future goals and planned expansions.
As part of the plan, AICTEC will spin off its projects segment into a wholly owned subsidiary. The company will also separate its wholesale segment into another wholly owned subsidiary.
In addition, AICTEC will establish a new unit dedicated to technical services, cybersecurity, and programming, which will also be a wholly owned entity. The company further plans to develop an investment arm to explore opportunities for strategic partnerships and future expansion.
The restructuring is aimed at enhancing operational efficiency by allowing each division to allocate resources independently and manage its activities separately. The company said the move is expected to improve governance, increase operational flexibility, and support growth across its core business areas.
AICTEC noted that the plan will not have any material financial impact at this stage. It will disclose any significant developments related to the restructuring, the establishment of new subsidiaries, or the formation of strategic partnerships as they occur.
The initiative is part of a broader strategy to revamp the company’s business model and enhance long-term shareholder value.
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