RealTime IT News

New Expansion Strategy for Xceed With Middle Eastern JV

Integrated marketing company Xceed, has announced that it has formed a joint venture company with the Al-Mira Group of Saudi Arabia.

The joint venture, Xceed SA, will be registered in Bahrain and will provide Xceed's full range of service to clients throughout the Middle East.

Xceed SA, is scheduled to begin operations by the end of October and will initially maintain offices in Dammam, Riyadh and Jeddah.

The company will offer Xceed's information solutions to both private and public sector organizations throughout the mentioned region managed by Qaisar Bari, who will serve as a president of Xceed SA and will be responsible for growing the business.

To date, many of the Arab states have limited experience with Web based business models and thus form a natural untapped market, according to Xceed. Further, these same countries have large private as well as governmental sectors which would benefit by developing information solutions.

Al-Mira Group, The Xceed's joint venture partner, is one of Saudi Arabia's largest family-owned conglomerates that managed businesses in sectors include real estate, steel production, distribution services and computer networking, among others. The Al-Mira Group's wide ranging operations and extensive network of business contacts will be extremely important in establishing Xceed SA as a leader in this important market.

"The formation of Xceed SA, with our partner the Al-Mira Group, is Xceed's latest move to expand its global presence," said Scott Mednick, chairman and chief strategic officer of Xceed Inc. "By forging a multinational structure Xceed will achieve several important benefits including maintaining operations in high growth markets, gaining expertise in developing information solutions in different cultural systems and ultimately advancing along the learning curve faster than the competition."