Advanced Electronics Company (AEC) is a company in Saudi Arabia that was established in 1988 under the Economic Offset Program as per the directives of the government of Saudi Arabia. AEC is a state owned organization specializing in the field of defense, energy, Digital & security services, and modern electronics. AEC is a subsidiary of state-owned defense company Saudi Arabian Military Industries, whose parent company is Public Investment Fund (PIF).[2]
Acquisition by Saudi Arabian Military Industries
In December 2020, the Saudi Arabian Military Industries (SAMI) fully acquired AEC, making it a 100% Saudi-owned company. The deal shall strengthen SAMI's presence in the defense industries market.[3] It is the largest military industries deal ever concluded in Saudi Arabia.[4]
In 2021, Ziad bin Houmod Al-Musallam was appointed the CEO of AEC.[5]