Master Works, a data management and digitization company based in Saudi Arabia, has acquired 51% ownership of Jadaya, a Saudi-based customer-oriented, Governance, Risk and Compliance (GRC) consulting and solutions provider.
Established in 2012, Master Works has built strong partnerships with large companies like Google, IBM, Microsoft, Oracle, SAS, and Corporator. The company has offices in Saudi Arabia, UAE, Jordan, Egypt, and India. Jadaya has a wealth of expertise in cybersecurity and cloud services and specializes in governance, risk, and compliance solutions to digitize processes and procedures.
With the acquisition, Master Works will be expanding its portfolio beyond data and digitization products. The partnership will see Master Works incorporate Jadaya’s products and services to enrich its product offering. The global GRC market is expected to reach 506 billion SAR (134.86 billion USD) by 2030.
Through the acquisition, Master Works will broaden its portfolio of products and services to public and private sector clients. The acquisition process is expected to be completed in the second half of 2023 and is anticipated to boost revenue from this year.
Mr Hani Al Lehaibi, CEO at Master Works, says: “We have been keen to expand our portfolio for a while now, and we’re very happy to have found the perfect opportunity in Jadaya, who build end-to-end cutting-edge solutions and share our mission to accelerate digital transformation.”
Mr Hamad Alfataih, Founder of Jadaya, says: “The driving force behind what we do is our ambition to build a prosperous digital society and strengthen the Saudi Arabia tech ecosystem. Joining forces with Master Works will position us to offer a comprehensive portfolio of digital and innovative solutions and truly realise our vision of transforming businesses across the globe.”
This move follows Saudi Arabia’s strategic efforts to ensure its digital sectors continue accelerating. The Ministry of Communications and Information Technology has created several societal initiatives to empower digital national capabilities to drive the process of digital transformation. This includes 38 thousand training opportunities, 20 thousand jobs in the sector, 14 innovation labs, and 48 thousand beneficiaries of training programs.
Additionally, the National Technology Development Program (NTDP) was developed to contribute to enhancing and ensuring the effectiveness of the technology ecosystem in Saudi Arabia by utilising a range of components in collaboration with the stakeholders. The NTDP aims to facilitate Saudi Arabia’s transformation into a leading global technology hub, providing the tech ecosystem with innovative financial solutions.
About Master Works
Master Works has expertise in products and services across multiple technology fields such as data management, artificial intelligence, data strategy, API management, and software development. With more than 10 years of experience in Data Management and Digitization Domains, Master Works’ methodologies for Data Warehousing/Business Intelligence, Data Strategy, Advance Data Analytics, Digital Transformation, and API Management have proven to be key success factors that provide optimal value to organizations. Digital Transformation is fast-changing business expectations, and there is an urgent need for leaders like Master Works in this space. https://master-works.sa/en
Jadaya is a Saudi-based company specializing in governance, risk, and compliance (“GRC”) solutions to digitize processes and procedures, cybersecurity and cloud services. From concept to execution, they design, build, implement, and manage integrated technology solutions to create innovative solutions and help businesses drive measurable productivity. https://jadaya.com/#