(October 26, 2023) – Saudi Information Technology Company (SITE), a PIF-owned company, announced at the Future Investment Initiative 2023 in Riyadh an agreement with the US-based Privafy Inc. to establish a new joint venture under the commercial brand METRAS. The JV will be specialized in the localization of world-class, next-generation cybersecurity solutions, including the launch of innovative Extended Detection and Response (XDR) offering.

The partnership aims to transfer and localize technologies and knowledge, build national capabilities in cybersecurity, and develop local technical content in line with the overarching objectives of the Public Investment Fund Program (2021–2025). The new JV is a testament to SITE’s position in the local and regional markets, leveraging its strategic partnerships to upskill local capabilities as befitting the market dynamics.

About SITE: Saudi Information Technology Company (SITE) was established in 2017 and is wholly owned by Public Investment Fund (PIF). SITE contributes through its national capabilities and international partnerships to the development of secure-by-design, innovative offerings in cybersecurity, cloud computing, systems integration, software house, and human capital development.

About Privafy: Based in Boston, Privafy revolutionizes enterprise cybersecurity with its cloud-native, unified service. Combining SWG, ZTNA, CASB, NGFW, NGVPN, Antivirus and AntiMalware it offers robust protection for endpoints, networks, clouds and applications. Its integrated platform uses advanced AI/ML for top-tier defense, all managed from a single dashboard.