Elm Signs MoU with CyShield to Explore Chances of Developing Cooperation and Expanding in Egyptian Market

Elm, a leading digital solutions company, signed a Memorandum of Understanding (MoU) with CyShield Technology, a pioneering digital services company specialising in artificial intelligence, cyber security, and data analysis. The agreement aims to explore possibilities for developing cooperation and expanding in the Egyptian market. The partnership comes in line with Elm’s participation during the 43rd edition of the GITEX Global Exhibition 2023, which was held recently at the Dubai World Trade Centre (DWTC).

Hakeem Al Rasheed, Director of International Business at Elm, and Eng. Wael Ali, Chief Technology Officer at CyShield Technology, signed the MoU, which seeks to establish a framework to establish bilateral cooperation based on shared interests, enabling both parties to evaluate opportunities in the digital sector. In addition, the MoU supports Elm’s strategy to expand into Egyptian markets as well as those of neighbouring countries, as CyShield Technology has been considered one of the key contributors to the digital transformation in the country.

Furthermore, the agreement aligns with Elm’s strategy to continue its market expansion and reinforce its presence in the Arab region. The company plans to realise this strategy by offering companies the tools required to keep up with digital transformation and technological advancements, as well as by providing customised solutions to meet the evolving requirements of both individuals and businesses in this digital era.

Majid Al Arifi, official spokesperson and VP of Marketing at Elm, highlighted the company’s steadfast dedication to establishing enduring partnerships with companies focusing on the digital, technological, and cybersecurity fields. Moreover, he stressed the significance of knowledge exchange and partnership development with CyShield Technology to support the expansion of both companies, as well as enhance the quality of services offered to clients. Al Arifi also emphasised that the MoU enables both parties to explore and evaluate the opportunities present in the regional and international markets, prepare to enhance their footprint within these landscapes, and collaborate to create new joint digital business ventures.Al Arifi stated that boosting Elm’s regional partnerships acts as a key pillar in efforts to ensure a technological infrastructure that supports digital transformation across the Arab region as well as the African continent. It further allows companies to provide services through digital platforms, ensuring maximum efficiency and reliability.

Elm, a pioneer in the digital industry within Saudi Arabia and the wider region, has a customer base of over 30 million users, 700,000 business clients, and processes over 2 billion transactions annually. In addition, the company’s operational model focuses on information technology (IT) localization, offers a broad array of digital solutions and smart platforms, manages over 50 different brands in various sectors, and is part of over 170 projects.