Noventiq Holdings, a cybersecurity solutions and services firm, has announced its joint venture with Al-Suwaiket Group, a leading conglomerate with diversified interests in energy, construction, and technology. Additionally, Mohamed Mostafa has been appointed as General Manager of Noventiq in Saudi Arabia and Egypt.

As part of Noventiq’s expansion strategy, a new office will be opened in Dammam alongside the existing office in Riyadh. Mostafa will relocate to Saudi Arabia to lead regional talent growth, bringing over three decades of leadership experience to his new position.

Prior to his appointment, Mostafa served as the Chief Executive Officer at Digitech in Egypt. He has also held leadership roles at GBM Distribution, Gulf Software Distribution, Microsoft, HP, and IBM. Academically, he holds an MBA degree from Paris ESLSCA Business School and a BSc degree in Electrical and Electronics Engineering from Cairo University.

Commenting on the joint venture and Mostafa’s appointment, Hervé Tessler, CEO of Noventiq, said, “Our collaboration with Al-Suwaiket Group and the establishment of this joint venture are key milestones in Noventiq's journey towards becoming a leading force in the Saudi Arabia’s digital transformation sphere. This market’s accelerated growth represents a great opportunity for Noventiq, and I am really glad to have Mohamed to lead this joint venture and our expansion project across Saudi Arabia.”

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Sheik Mubarak bin Abdullah Al-Suwaiket, Chairman of Al-Suwaiket Group, added, “This joint venture with Noventiq marks a new era of technological advancement for Saudi Arabia. By combining our local expertise with Noventiq's global capabilities, we are setting a new standard for innovation and digital excellence in the region.”

Mostafa also expressed, “With Saudi Arabia positioned as one of the fastest-growing markets worldwide—and the fastest growing G20 economy in 2020—this joint venture is a testament to our belief in the country's potential and our commitment to contributing to Saudi Vision 2030. I am excited to lead this joint venture with the extraordinary team from Al-Suwaiket Group, and I look forward to enhancing the digital transformation ecosystem in Saudi Arabia.”