(Bloomberg) -- SolarWinds Corp. plans to open an office in Riyadh, the capital of Saudi Arabia, next year as its business in the Middle East grows rapidly, according to Chief Executive Officer Sudhakar Ramakrishna.
The Texas-based software company’s sales in the region have posted double-digit growth annually since it opened an office in Dubai in 2022, he said in an interview.
“If you can serve the Middle East customers, you can serve global customers,” Ramakrishna said. The technology requirements in the region are “cutting edge” and investment rates are high, he added.
Saudi Arabia is trying to attract foreign investors with a promise to cut red tape as the kingdom seeks to implement Crown Prince Mohammed bin Salman’s Vision 2030 agenda to diversify the Saudi economy away from oil. It faces competition from neighboring emirates, Abu Dhabi and Dubai, which have also been wooing global firms.
SolarWinds is also considering moving its headquarters for Europe, Middle East and Africa to its Dubai office from Cork, Ireland, Ramakrishna said.
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