Creation of Middle East Cybersecurity by ARAMCO and Raytheon gets EU nod

[dufus]

 

The creation of a joint venture, named Middle East Cybersecurity, by Raytheon Technologies Corporation of the US and Saudi Aramco complies with EU Merger Regulation, the European Commission said on June 13.

 

The joint venture will be active in the marketing, selling and provision of defensive cybersecurity products and services within the Kingdom of Saudi Arabia and in the Middle East/North Africa region, the Commission said in a press release.

 

Raytheon is active in aerospace and defence providing advanced systems and services for commercial, military and government customers worldwide.

 

Saudi Aramco is primarily engaged in the exploration, production and marketing of crude oil and, to a lesser extent, in the production and marketing of refined products and petrochemicals.

 

The Commission said the proposed acquisition would raise no competition concerns, given that the joint venture is not expected to offer any products or services to customers in the European Economic Area.

source

[Karlston]

Moved from General News.

 

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