Saudi Aramco’s digital arm is reportedly in talks to acquire a significant minority stake in U.S. telecommunications software maker Mavenir, valuing the company at approximately $3 billion. The proposed $1 billion investment is expected to be finalized before the year’s end, although no guarantees have been made. If successful, this would mark Aramco Digital’s first major foray into the telecom sector as part of Saudi Arabia’s Vision 2030 initiative, which emphasizes technological innovation and economic diversification. Mavenir, known for its Open Radio Access Network (Open RAN) technology, is working with investment bank Evercore on the deal, according to sources familiar with the matter.

Open RAN technology, championed by Richardson, Texas-based Mavenir, offers telecom operators cost-effective solutions through cloud-based software and interoperability with gear from multiple suppliers. While Open RAN has not yet matched the comprehensive capabilities of traditional telecom vendors like Ericsson, Nokia, and Huawei, it has gained traction as a strategic alternative, particularly amid U.S. efforts to limit Huawei’s market influence. In addition to the proposed stake, Aramco Digital is negotiating a separate $200 million joint venture with Mavenir to drive regional technology development, following its recent license to provide wireless services in Saudi Arabia.