Schneider Electric signs over 10 MoUs at Riyadh Innovation Summit

GHADA.ISMAIL

Sep 30, 2025

Agreements span AI-powered data centers, green mobility, water management, and smart infrastructure

Riyadh – Sharikat Mubasher: Schneider Electric, a global leader in digital energy management and automation, has strengthened its strategic presence in Saudi Arabia by signing more than 10 memoranda of understanding with leading local companies during the second edition of the Innovation Summit Riyadh.

The agreements cover key areas including energy efficiency, AI-powered data centers, smart infrastructure and buildings, e-mobility, water management, and advanced digital solutions, as per a recent press release.

They also support the localization of manufacturing and expansion of Schneider Electric’s partnerships in the Kingdom, reinforcing its commitment to Saudi Vision 2030.

Among the signings were partnerships with Power Center for advanced electrical panels, Evostel and UTEC for distribution and services, SETRAA and ATS for technical solutions, and Subway Networks for industrial automation. Schneider Electric also inked strategic deals with Golden Energy Solutions to boost local production, MIS to advance data center capabilities, Avalon Pharma to digitize pharmaceutical operations, PCC and SNC ICT for smart buildings, SAQUA for sustainable aquaculture, Panda for retail innovation, and Solutions Valley for EV charging infrastructure.

Walid Sheta, President of Schneider Electric Middle East & Africa, said Saudi Arabia is at the heart of a major energy transformation, while Mohamed Shaheen, CEO for Saudi Arabia, Pakistan, Yemen, and Bahrain, highlighted the company’s 44-year legacy as a trusted partner in driving sustainability and digital growth in the Kingdom.

The new MoUs mark a milestone in Schneider Electric’s role as a catalyst for sustainable, digital, and industrial transformation, further embedding innovation into Saudi Arabia’s national development journey.

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Riyadh - Sharikat Mubasher: An investor consortium comprised of the Saudi Public Investment Fund (PIF), Silver Lake, and Affinity Partners signed a definitive agreement to acquire the gaming giant Electronic Arts (EA) in an all-cash transaction that values EA at an enterprise value of nearly $55 billion.Under this agreement, the consortium will acquire 100% of EA, with PIF rolling over its existing 9.9% stake in the company, according to a recent statement by EA.Investors will bring deep sector experience, committed capital, and global portfolios with networks across gaming, entertainment, and sports that offer unique possibilities for EA to blend physical and digital experiences, enhance fan engagement, and create new growth opportunities.This transaction is the largest all-cash sponsor take-private investment in history, with the consortium partnering closely with EA to enable it to move faster and unlock new opportunities on a global stage.Commenting on this milestone, Turqi Alnowaiser, Deputy Governor and Head of International Investments at PIF, said: “PIF is uniquely positioned in the global gaming and esports sectors, building and supporting ecosystems that connect fans, developers, and IP creators. PIF has demonstrated a strong commitment to these sectors, and this partnership will help further drive EA’s long-term growth, while fueling innovation within the industry on a global scale.”For his part, Egon Durban, Co-CEO and Managing Partner of Silver Lake, stated that the investment reflects Silver Lake’s mission to partner with exceptional management teams at the highest quality companies. “EA is a special company: a global leader in interactive entertainment, anchored by its premier sports franchise, with accelerating revenue growth and strong and scaling free cash flow,” he added.The transaction is expected to be closed in the first quarter (Q1) of 2027 and will be funded by a combination of cash from each of PIF, Silver Lake, and Affinity Partners, as well as the roll-over of PIF’s existing stake in EA.The investors plan to fund the equity component of the financing entirely from capital under their respective control.

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