Naver Cloud announced it has signed a Memorandum of Understanding (MOU) with iot squared, a Saudi Arabian IoT and smart city technology solution company, for collaboration in Saudi Arabia’s digital transformation (DX).
iot squared is a joint venture co-founded by the STC Group, a leading force in Saudi Arabia’s digital transformation, and the Saudi Arabian National Wealth Fund (PIF). This MOU follows Naver’s announcement last October about winning a project to build a digital twin platform in Saudi Arabia, marking the first business agreement since then, with iot squared joining as Team Naver’s local partner.
Through this MOU, both companies plan to collaborate on a wide range of cutting-edge ICT projects, including IoT, digital twins, and robotics. This collaboration aims to support Saudi Arabia’s national digital transformation initiatives.
The partnership will leverage Team Naver’s digital twin platform for urban planning, monitoring, and simulation, and work on developing smart city infrastructure based on robotics and autonomous driving technologies. Additionally, they plan to explore new applications for the digital twin platform in Saudi Arabia.