TalkPool enters Saudi Arabia in its march towards global reach
Talkpool selects Saudi Arabia as its next market as the oil-rich desert kingdom plans major investments in high-tech infrastructure
Talkpool is only planning to start business in a few new countries during 2018. The foreseen geography for the new markets are in proximity to existing markets in Europe, Middle East, Americas and Europe. Out of many market opportunities, Talkpool has chosen to start a business in Saud Arabia, which is planning substantial investments in Internet of Things. The Saudi Vision 2030 includes smart city projects such as the planned city of Neom.
Talkpool will initially concentrate its efforts in Saudi on providing consulting services before increasingly focusing on IoT. is Talkpool’s first client in Saudi. A country manager has already been employed and client orders for approximately 6 full-time consultants have been received from US airplane maker Airbus. The new business is planned to clock up over a million Euros in sales with earnings before interest, tax, depreciation and amortization (EBITDA) exceeding 10% already in its first year of business.
For further information, please contact:
Erik Strömstedt, CEO Talkpool AG
Tel: +41 81 250 2020
TalkPool builds, maintains and improves telecommunication networks globally. Through its cutting-edge technical expertise, long experience and agile business model, Talkpool offers global telecom vendors and operators high-quality services on short notice no matter the location. Moreover, TalkPool is one of few companies with actual solutions and contracts in place in the exciting IoT-market. Remium Nordic Holding AB is Talkpool’s Certified Advisor.
This information is inside information that Talkpool AG (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 11.00 CET on January 23, 2018.