SAMI acquires Riyadh-based Advanced Electronics

Saudi Arabian Military Industries (SAMI) announced signing a term sheet agreement to acquire 100 percent of Advanced Electronics Company (AEC), the Saudi Press Agency has reported, citing a statement.

AEC is a Riyadh-based private sector firm specializing in engineering, development, manufacturing, repair and technical support across defense, information communications technology (ICT), energy, cybersecurity and high-tech fields.

Established in 1988 under the Saudi Economic Offset Program, AEC has played a pioneering role in the fields of modern electronics, manufacturing, system integration, and repair and maintenance services for nearly three decades. 

AEC specializes in the design, development, manufacturing, maintenance and repair of several advanced industry and military electronic systems, devices and equipment such as smart electricity and water meter systems, security protection systems for the vital infrastructure, industrial control systems, sight systems for the Typhoon aircraft, jammer and interference systems for the F-15 aircraft, electronic units for the F-16 aircraft, land equipment and training simulators for the Hawk 165 aircraft, and sight systems for the Tornado aircraft, among others.

AEC reported net sales of SAR 2.07 billion in 2018, compared to SAR 1.925 billion in 2017, and SAR 1.65 billion in 2016.

Launched in May 2017, SAMI is a state-owned ‎military industries company working under the directives outlined in the ‎Saudi Vision 2030.