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.”
