SAMI acquires Advanced Electronics Company
SAMI acquires Advanced Electronics Company RIYADH, December 28, 2020 Saudi Arabian Military Industries (SAMI), a wholly owned subsidiary of the Public Investment Fund (PIF), announced that it has acquired Advanced Electronics Company (AEC) as part of the largest military industries deal ever concluded in Saudi Arabia. The purchase is expected to complete in the first quarter of 2021 following regulatory approvals. As a result, AEC will become a 100% Saudi-owned company, said a statement. The acquisition was announced during a ceremony organised by SAMI in the presence of the me...