- Deal to support digital transformation and localization of skills and talent development in support of Saudi Vision 2030
- Monstarlab plans to double its headcount in its Riyadh office
02 November 2022 - Riyadh, Saudi Arabia: Monstarlab, the global digital consultancy leader, has announced that it has commenced the business acquisition of Pioneers Consulting, a leader in design and implementation of strategies, founded by Faisal Alamro, Abdullah Aldakheel and Ahmed Alghofaily and developed in the Kingdom of Saudi Arabia (KSA).
Pioneers Consulting was established in 2014 and has become one of the fastest growing consulting firms in the region. Created and established by Saudi nationals, Pioneers has since developed a diverse international workforce from the Middle East, Africa, Europe, and North America. Pioneers Consulting is a strategy consulting firm that provides services to a range of customers, including ministries, Government agencies, private companies and several publicly listed firms.
The business acquisition will enable Pioneers to utilise Monstarlab’s world-class digital capabilities, supporting its vision to provide its clients with consulting solutions that have real impact. The agreement will also enable Monstarlab and Pioneers to expand their regional and global reach, and attract new potential projects in the Middle East, particularly GCC, as well as Africa and Europe.
“This business acquisition is an exciting milestone for Monstarlab, as it will provide the springboard for us to further grow our presence in Saudi Arabia, the Middle East and beyond, and will penetrate new customer segments. We are committed to actively supporting the strategic vision of the Saudi government as it seeks to diversify the nation’s economy, develop local talent and attract inward investment,” said Hiroki Inagawa, Monstarlab Group CEO. “The Kingdom of Saudi Arabia is a key strategic market for Monstarlab, which is investing heavily in advanced technology as well as the development of local skills and capabilities. Digitalisation is a key strand of the economic transformation currently taking place in the Kingdom, and we are delighted to be a catalyst for future sustainable and innovative growth,” Inagawa added.
Following the business acquisition, Monstarlab plans to double its headcount in its Riyadh office and scout for talent within Saudi Arabia and the wider region to fill most of the new roles created. The deal will also accelerate and enhance digital transformation for Pioneers Consulting’s existing customer base present across a number of key segments in the public and private sectors in the kingdom, including financial services, healthcare, fintech, housing, labour and social development. The agreement will also enable Pioneers to provide its customers with a wider range of services and deliver tangible impact.
Faisal Alamro commented: “We are delighted to join the Monstarlab Group, a company that has advanced digital technologies that will support Pioneers’ growth in the Kingdom of Saudi Arabia and further afield. As a home-grown, Saudi organisation, our role is to support the development of people and businesses across a range of sectors. Through this agreement with Monstarlab, we will be able to further enhance our services and solutions and support our clients in the kingdom, in line with Saudi Vision 2030. We will also be expanding into new verticals and geographies, utilising Monstarlab’s international reach combined with our deep understanding of customer requirements. Monstarlab’s leadership has a genuine commitment to the development of local talent and we are excited to take part in its journey of hiring and building talent in Saudi Arabia''.
The Kingdom of Saudi Arabia has placed technology and people at the heart of its vision and strategy for the future. For example, the ICT (Information Communication Technology) strategy 2023 aims to increase the ICT sector’s contribution to GDP, grow levels of Saudization in the sector, increase women’s participation in the sector by 50%, boost IT and emerging technologies market size, and create more than 25,000 jobs in the sector.