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Quantum Switch Tamasuk (QST) is evaluating strategic options for its Saudi business, including a potential sale, according to sources. The company, a joint venture between Saudi Tamasuk and UK-based Quantum Switch, has appointed Rothschild for advisory support.

The business could be valued above $500 million. QST operates two data centers in Dammam and has additional projects planned. The Gulf region is investing billions in data infrastructure to attract hyperscalers like Google, Microsoft, and Meta, aiming to diversify economies away from hydrocarbons. Foreign investment interest in regional data centers is growing, as evidenced by recent transactions involving KKR and Silver Lake in the UAE.