RedCloud Holdings forms Saudi-Bahrain RedAI joint venture with MJM AlKhaleej
RCT•RedCloud Holdings entered a 51%-49% joint venture with MJM AlKhaleej to operate its RedAI trade infrastructure. A separate 20-year licensing deal covers AI infrastructure and services, with fees capped at 10% of revenue per order.
1. Joint venture terms
The venture will be incorporated in Saudi Arabia and headquartered in the Eastern Province, targeting deployment and localization with support from MJM’s market access. Net profit distributions will follow the shareholders’ agreement and applicable law.
