Under the presence of French ambassador to Saudi Arabia Bertrand Besancenot and Secretary General of the Riyadh Chamber of Commerce and Industry Dr. Mohamed Al Kathairy, Assystem and Radicon forged the deal

RIYADH – In the presence of Bertrand Besancenot, French ambassador to the Kingdom of Saudi Arabia, and Dr. Mohamed Al Kathairy, Secretary General of the Riyadh Chamber of Commerce and Industry, Assystem announced Wednesday that it has completed the acquisition of 75% stake in the Saudi engineering company Radicon Gulf Consult (Radicon) to create a new engineering offer in the Saudi market – Assystem Radicon.



Under the acquisition, Radicon continues to retain 25% share in the newly formed company.



Assystem is an international and independent engineering company while Radicon is a Saudi business with long-standing expertise in engineering. The merged entity Assystem Radicon combines Radicon’s knowledge of the market and expertise with Assystem’s skills in project management and engineering, particularly in the nuclear field, to provide significant value addition to the country’s many infrastructure projects.



The acquisition of the 400-person Radicon based in Al Khobar and Riyadh enables Assystem to double the size of its footprint in the Arabian Gulf region, and gain market share in the infrastructure, energy and transportation sectors. — SG