Logo ofAdvance International Company for Communication and Information Technology (AICTEC)
Advance International Company for Communication and Information Technology (AICTEC) has approveda comprehensive strategic plan to restructure its technical and operational divisions. This comes as part of its efforts to enhance operational efficiency, while boosting specialization in technical and operational services, in line with the company’s future objectives and planned expansions, according to a statement to Tadawul. 
For more news and details on the projects
The plan includes the following:
To spin off the projects segment into a wholly-owned subsidiary.
To spin off the wholesale segment into a wholly-owned subsidiary.
To develop a new segment for the technical services, cybersecurity, and programming in a wholly-owned spin-off.
To develop an investment arm to explore opportunities for strategic partnerships as well as expansions.
This step aims to improve operational efficiency by allocating resources and managing each activity independently, contributing to enhanced governance and operational flexibility, while supporting growth and expansion opportunities in each division.
This step does not have any material financial impact at this time. The company will announce any material developments related to the restructuring plan, the establishment of subsidiaries, or the entry into partnerships in due course.
This move is part of an integrated strategic plan aimed at developing the company’s business model and enhancing long-term shareholder value.
Logo ofAdvance International Company for Communication and Information Technology (AICTEC)
Advance International Company for Communication and Information Technology (AICTEC) has approveda comprehensive strategic plan to restructure its technical and operational divisions. This comes as part of its efforts to enhance operational efficiency, while boosting specialization in technical and operational services, in line with the company’s future objectives and planned expansions, according to a statement to Tadawul.
For more news and details on the projects
The plan includes the following:
To spin off the projects segment into a wholly-owned subsidiary.
To spin off the wholesale segment into a wholly-owned subsidiary.
To develop a new segment for the technical services, cybersecurity, and programming in a wholly-owned spin-off.
To develop an investment arm to explore opportunities for strategic partnerships as well as expansions.
This step aims to improve operational efficiency by allocating resources and managing each activity independently, contributing to enhanced governance and operational flexibility, while supporting growth and expansion opportunities in each division.
This step does not have any material financial impact at this time. The company will announce any material developments related to the restructuring plan, the establishment of subsidiaries, or the entry into partnerships in due course.
This move is part of an integrated strategic plan aimed at developing the company’s business model and enhancing long-term shareholder value.
