PNN – A Hebrew-language media outlet revealed the extensive presence and activities of Israeli companies in Saudi Arabia.
According to the report of Pakistan News Network, the Globus newspaper reported that Israeli cyber-companies did not wait for an official announcement of a compromise and are currently operating in Saudi Arabia in an undisclosed manner.
According to the Hebrew-language media outlet, while Saudi Arabia is becoming a regional technology power, in recent years it has witnessed the secret presence of a large number of Israeli companies, especially those active in the field of cyber.
Extensive business relations have already been formed between Israeli and Saudi companies, especially in the field of cyber security and data.
Some industry activists say that we have found partners for cooperation in this country, but it must be admitted that after October 7, the conditions for this cooperation have become difficult.
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Another part of the report states that over the years, relations between Riyadh and Tel Aviv have been formed and developed without a compromise agreement. To this day, a year and a half after October 7, these trade relations continue, although their level is very low and away from media attention.
Among the Israeli companies currently operating in Saudi Arabia is Cyber ​​Ark, an Israeli company with 4,000 employees, 1,200 of whom are based in Petah Tikva and Beersheba.
Tom Landes, the company’s former sales manager for the Middle East, reported on the company’s plans to expand its operations in Saudi Arabia just a few short months after October 7.
The company, which is active in providing user identification cards, reported 25% annual revenue growth in Saudi Arabia and announced that Saudi Arabia would be the main driver of this revenue expansion in the region from 2024.
The company also emphasized that it currently has more than 50 employees and agents in Saudi Arabia and plans to double its operations over the next two years. However, Lowndes stepped down from this position in early February this year and the company has not provided a new report on the progress of its activities in Saudi Arabia since then.
However, Cyber Ark is not the only Israeli company operating in Saudi Arabia. Check Point is also trying to sell services to the countries of the Arabian Peninsula, although the company’s sales in Saudi Arabia are not significant compared to its overall revenues.
CyberEsen, a Tel Aviv-based cyber-security company active in the field of peripheral device protection, is headquartered in San Diego and has been present in the Arabian Peninsula for several years through SoftBank, which is one of its major shareholders.
There is also a company registered in the US state of New Jersey, most of whose employees are Israeli, but its Israeli identity is kept secret and it is widely active in Saudi Arabia.
Another company, whose name was not disclosed, was founded in Israel and moved its headquarters to the United States last year. It recently advertised for a sales manager for its Riyadh office, which opened a few months ago.
The company is training in cyber security, a field that is gaining traction in Saudi Arabia, where Riyadh is investing billions of dollars in training in tech industries as it seeks to wean itself off its oil-dependent economy.
Another Israeli company with significant activity in Saudi Arabia is Continuity, a software company founded in the United States two decades ago but which has shifted its focus to Israel to take advantage of the tax breaks offered to Jewish companies.
According to the company’s CEO, today the company provides systems to various institutions to get rid of technical problems and various cyber-incidents, in addition to selling secure backup and backup systems to banks and large institutions.
The company’s current focus is on Saudi Arabia, and its activities have also reached some Arab countries. Its activities are usually carried out through distributors of large systems and famous brands such as Dell.
The company began its work in Saudi Arabia even before the signing of the Abraham Accords and was welcomed, however, after October 7, the company’s activities, like other Israeli companies in Saudi Arabia, declined.
Meanwhile, according to experts, this issue has nothing to do with the halting of compromise negotiations between the two sides, but rather the winds that should be blowing in favor of these companies have subsided, and Israel is not currently among the parties being considered for business cooperation.
Trade cooperation between the UAE and Israel has increased from $55 million before the Abraham Accords in 2020 to $1.5 billion in 2022, which was the peak of this cooperation, until in 2023, after October 7, this volume of trade relations decreased to $1.3 billion.