Saudi Information Technology Company (SITE), a PIF-owned company, announced at the Future Investment Initiative 2023 in Riyadh an agreement with the US-based Privafy to establish a new joint venture under the commercial brand METRAS. The JV will specialise in the localisation of world-class, next-generation cybersecurity solutions, including the launch of innovative Extended Detection and Response (XDR) offering. Â
The partnership aims to transfer and localise technologies and knowledge, build national capabilities in cybersecurity, and develop local technical content in line with the overarching objectives of the Public Investment Fund Programme (2021–2025). The new JV is a testament to SITE’s position in the local and regional markets, leveraging its strategic partnerships to upskill local capabilities as befitting the market dynamics.
