Ruanyun Edai Tech Seals Saudi MOU to Boost AI Education, Targets 60% Global Revenue
Ruanyun Edai Technology’s Saudi subsidiary signed a nonbinding MOU with Umm Al-Qura University’s Wadi Makkah to explore AI-driven education, language testing, joint research and investment initiatives in Saudi Arabia. The company targets deriving 60% of revenue from global markets by end-2027 and plans to transition to the Formind Group identity.
1. MOU Signing and Scope
Soft Cloud Smart Technology, Ruanyun Edai’s Saudi arm, has signed a nonbinding MOU with Wadi Makkah, Umm Al-Qura University’s technology and investment subsidiary, to explore AI-driven education solutions, Arabic language testing, joint research collaborations, training programs and potential joint investments across the Kingdom.
2. Strategic Global Expansion
Ruanyun Edai aims to derive approximately 60% of total revenue from international markets by the end of 2027 and plans to rebrand as Formind Group, subject to shareholder approval and regulatory processes, to support its institution-facing edtech services model.
3. Next Steps and Conditions
The MOU is a preliminary framework that does not guarantee binding revenue commitments; all specific project terms, financial arrangements, intellectual property rights and regulatory approvals will be negotiated in future definitive agreements.