Clucus Establishes Strategic Partnership for Saudi Local JV Formation... 'Full-Scale Entry into MENA Cloud Market'

- Investment Promotion for Establishing Local Joint Venture for Saudi Arabia Cloud/AI Business
- Cloukus Accelerates AI-Based Global Cloud Services Following the US and Malaysia
- Expanding Global AI/Data MSP Position by Promoting Managed Service Value in AI and Data Fields

(Photo by from left: Seongwan Hong, CEO of Clucus; Mr. Nawaf Alshaif, CEO of Alshaif Group; Dr. Ali Rana Sajad, CEO of Imperial Holdings)

Cloukus, a data and AI-based cloud consulting and management specialist company (CEO Seongwan Hong), announced today that it has entered into a strategic partnership with Saudi Arabia's leading construction/telecommunications/energy company Al Sharif (AL SHARIF Group Holdings, AGS, CEO Mr. Nawaf Alsharif) and Qatar's Imperial Holdings (CEO Dr. Ali Rana Sajad) to actively invest in establishing a local JV for providing AI and cloud services in Saudi Arabia.

The signing ceremony was held at Cloukus' Seoul headquarters, with key figures including Mr. Nawaf Alsharif, CEO of Al Sharif Group, Dr. Ali Rana Sajad, CEO of Imperial Holdings, and Seongwan Hong, CEO of Cloukus, in attendance.

Under this agreement, the three companies pledged to jointly discover business innovation projects based on cloud and AI in Saudi Arabia, cooperate to establish a local joint venture to provide and expand AI and cloud services to public and private enterprises, and share integrated strategies.

Al Sharif Group (ASG), headquartered in Saudi Arabia and operating across the Middle East, Asia, Africa, and Europe, is recognized as a leader in the energy solutions market. It has diversified its portfolio by establishing various subsidiaries including those in green energy, technology, and capital investment, thereby securing competitiveness in multiple fields and pursuing continuous growth.

Imperial Holdings, a limited liability company headquartered in Doha, Qatar, is actively engaged across South Africa, Europe, and the United States as a multinational industrial services company. In January this year, it signed a business agreement with Korea Gas Technology Corporation to pioneer the Middle East's eco-friendly energy market.

Now in its fourth year since establishment, Cloukus is the fastest-growing cloud MSP in Korea, with strengths in data and AI services such as Open AI and Microsoft Cloud. It won the Microsoft Partner of the Year award consecutively in 2021 and 2022, received the Databricks APJ Partner of the Year award in 2022, and in 2023 was recognized as the top partner in the Data & AI sector by Microsoft Korea for outstanding performance and capabilities.

In the MENA (Middle East and North Africa) region, cloud services have become essential infrastructure for digital transformation across all economic and social sectors. Centered on Saudi Arabia, cloud services are being introduced in various fields including oil distribution and management systems, next-generation energy development research facilities, media, distribution, and public sectors, leading to explosive demand growth.

The public cloud market size in Saudi Arabia is expected to grow from approximately USD 1.45 billion in 2023 to USD 2.58 billion by 2027, representing a 77% growth over about four years. To respond to this increasing adoption and demand for cloud services in Saudi Arabia, Microsoft has announced plans for data center investments.

Additionally, Saudi Arabia, positioning itself as a leading AI hub in the MENA region, is promoting various initiatives to foster AI research, development, and adoption under the national strategy 'Vision 2030.' The AI market size in the MENA region is projected to grow from USD 500 million in 2020 to USD 8.4 billion by 2026, expected to bring the greatest benefits to the Saudi Arabian economy.

This indicates rapid growth of cloud services and the AI industry in Saudi Arabia and the MENA region, emphasizing the importance for companies to adopt cloud and AI technologies to pursue digital innovation and strengthen competitiveness.

Seongwan Hong, CEO of Cloukus, stated, "Cloukus is expanding its global presence focusing on regions where Microsoft plans to establish new regions, such as Malaysia. AI is an essential service in Neom City, the future city of Saudi Arabia, and Cloukus, armed with rich experience in cloud and AI, will do its best to be at the center of this."

Al Sharif CEO Nawaf Alsharif said, "We are pleased to partner with Cloukus, a leader in Korea's cloud and AI industry. Digital transformation based on cloud and AI aligns with Saudi Arabia's vision to be achieved by 2030, and Al Sharif intends to expand this partnership throughout Saudi Arabia."

Imperial Holdings CEO Dr. Ali Rana Sajad said, "We are very pleased to form a strategic partnership with Cloukus. Through this joint cooperation, Imperial Holdings will do its utmost to become a leading company in cloud and AI business sectors in Saudi Arabia and the Qatar GCC (Gulf Cooperation Council) region together with Cloukus."

Meanwhile, Cloukus is highly recognized for its Microsoft cloud expertise and technological capabilities with global scalability, providing customers with the most efficient and stable cloud solutions while continuously expanding its global cloud service experience.