DHAHRAN — Saudi Aramco signed a memorandum of understanding (MoU) with Raytheon through its local subsidiary Saudi Arabian Raytheon Company to establish a new company to develop and deliver the best cyber security services in the Kingdom as well as in the Middle East and North Africa region.

The new cyber security company, owned by the two giants, is expected to provide marketing and security services for integrated defense cyber security products, as well as for research and development work. It will also enhance protection of cyber security of Saudi Aramco, as well as that of its suppliers, customers and subsidiaries, and help build global cyber-protection capabilities in the Kingdom and the region. Khaled Al-Dabbagh, vice president of Saudi Aramco for finance, strategy and development, said that the new company would support the Kingdom’s Vision 2030 by creating jobs for the young Saudi men and women in the cyber security sector in addition to supporting infrastructure for economic development in the Kingdom. He expected that there would be a growing demand for cyber security services with more companies moving toward providing digital space services. — SG/SPA