Qualcomm and OTVentures, an affiliate of Orascom Telecom, Media & Technology (OTMT), are exploring ways to work together to provide consumers with innovative content and applications across the MENA region. Through a recently executed Memorandum of Understanding (MoU), the companies have outlined broad collaboration arrangements reflecting the companies' aligned interest in expanding Egypt's mobile ecosystem. Pursuant to these arrangements, the companies ultimately seek to increase the availability of value-added services, including apps and content created specifically for local consumers. The MoUidentifies key areas in which Qualcomm can provide OTVentures with certain technology assistance, mainly concerning software development tools, as well as areas for potential collaboration in providing innovative technology and solutions to consumers at the retail level. Commenting on the MoU, Jihad Srage, Senior Vice President and President of Middle East, Africa and Central Asia operations at Qualcomm, said: “OTVentureshas developed a reputation for creating powerful customer experiences through its online and mobile solutions portfolios.There is significant demand amongst consumers in the regionfor more localized and relevant apps and more content to be made available on their smartphones. Our cooperation with OTVenturesaims to enhance the smartphone ecosystem by making a variety of content and apps available to consumers." Hanan Abdel Meguid, CEO of OTVENTURES, added: “Qualcomm is a leading provider of next-generation mobile technology in the Arab world and globally. We areworking on several projects using Qualcomm's developer tools. This new MoU opens the door to a variety of new opportunities between our companies aimed at fulfilling the needs of MENA's technology savvy and sophisticated mobile consumers."
