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Saudi Arabia's TCC Invests $50m in Digital Signal
Published May 26, 2013
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Saudi-based Technology Control Co (TCC) has made a $50m investment in Digital Signal Corp (DSC), a US-headquartered facial-recognition technology firm. The fund brings the total raised by Digital Signal Corp to around $100m. This figure could climb if the Riyadh-based tech consulting firm exercises an option to add another $60m to the latest funding round. DSC sells its biometric-based security technology to both commercial and government clients. "The security technology market in Saudi Arabia is poised for fast growth and is expected to be in excess of $400bn over the next five years, according to data published by IFSEC & OSH Arabia 2012. Digital Signal has proven its human identification capabilities and identity management solutions in Saudi Arabia and the company is uniquely positioned to continue providing even broader solutions in this large, emerging market," said the founder and chairman of TCC, Bejad Alharbi.
Posted by
VMD - [Virtual Marketing Department]
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