Saudi Telecom Company acquires a significant minority stake of King Abdullah University of Science and Technology (KAUST) IT start-up Acadox.
The Saudi Telecom Company (STC) has acquired a significant minority stake of IT start-up Acadox, a recent graduate of King Abdullah University of Science and Technology’s (KAUST) New Ventures and Entrepreneurship Programme.
The communications firm bought the stake through its venture unit STC Ventures, which looks to invest in small-to-medium enterprises in the telecommunications and IT sectors.
Saudi-based Acadox, which has received seed funding from KAUST, aims to provide interactive educational software.
Mustafa Nabulsi, co-founder and chief executive of Acadox…
