iot squared, an Internet of things (IoT) technology company and a joint venture between Saudi Arabia’s Public Investment Fund (PIF) and stc Group (stc), has signed a Memorandum of Understanding (MoU) with OQ Technology, the world's first global satellite telecom operator for IoT connectivity using 5G protocol.
The MoU was signed by Othman Al Dahash, Chief Executive Officer of iot squared, and Omar Qaise, Founder and CEO of OQ Technology.
Through this partnership, OQ Technology will provide satellite IoT connectivity services and products to iot squared and support the technical development of its products and services. The two partners will also collaborate to identify target markets, verticals and applications that require satellite IoT services in the Kingdom and provide them with the necessary solutions.
Othman Al Dahash, CEO of iot squared, said: “By helping to solve various challenges from traffic management, energy, safety, waste, and many others, IoT will fundamentally allow us to enhance productivity levels and quality of life, revolutionising the way we live and work. By providing coverage and connectivity anywhere in the country, the integration of satellite IoT services and solutions in the Kingdom will drive the adoption of IoT solutions.
“Thanks to our latest partnership with OQ Technology, not only will we leverage the company’s expertise and existing products to support iot’s technical development and products, but together we will drive the adoption of IoT services, helping to achieve national digital transformation objectives, and motivating research and development across Saudi Arabia.”
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