Advanced Electronics Company Limited
 | |
 | |
| Industry | Electronics, Military technology, Digital |
|---|---|
| Founded | 1988 |
| Headquarters | , |
Area served | Saudi Arabia |
Key people | Ziad Al Musallam (President & CEO) |
Number of employees | 2000+ |
| Parent | Saudi Arabian Military Industries |
| Subsidiaries | Advanced Electronics Support Services Company (AESSCO) [1] |
| Website | Official website |
Advanced Electronics Company (AEC) is a company in Saudi Arabia that was established in 1988 under the Economic Offset Program as per the directives of the government of Saudi Arabia. AEC is a state owned organization specializing in the field of defense, energy, Digital & security services, and modern electronics. AEC is a subsidiary of state-owned defense company Saudi Arabian Military Industries, whose parent company is Public Investment Fund (PIF).[2]
Acquisition by Saudi Arabian Military Industries
In December 2020, the Saudi Arabian Military Industries (SAMI) fully acquired AEC, making it a 100% Saudi-owned company. The deal shall strengthen SAMI's presence in the defense industries market.[3] It is the largest military industries deal ever concluded in Saudi Arabia.[4]
In 2021, Ziad bin Houmod Al-Musallam was appointed the CEO of AEC.[5]
See also
- Prince Sultan Advanced Technology Research Institute - a Saudi defense research and development partner.[6]
References
- ^ "SAMI-AEC Subsidiaries". www.aecl.com.
- ^ Arabiya, Al (20 May 2020). "Saudi Arabian Military Industries acquires ownership of Advanced Electronics Company". english.alarabiya.net. Retrieved 2 September 2024.
- ^ "Arabian Aerospace - SAMI acquires Advanced Electronics Company". www.arabianaerospace.aero. Retrieved 2021-01-04.
- ^ "SAMI acquires AEC in KSA's biggest military deal". Saudigazette. 2020-12-28. Retrieved 2021-01-04.
- ^ "Who's Who: Ziad bin Houmod Al-Musallam, CEO of the Advanced Electronics Co., a Saudi Arabian Military Industries company". Arab News. 2021-03-22. Retrieved 2021-03-23.
- ^ "Partnership between Advanced Electronics and Prince Sultan Advanced Technology Research Institute". Al Riyadh(الرياض) (newspaper). Al Riyadh(الرياض) (newspaper). 8 February 2011.