solutions seals some contracts worth SAR 372.9 mln with stc

Logo of Arabian Internet and Communications Services Co. (solutions)

Arabian Internet and Communications Services Co. (solutions) inked today, Dec. 1, a set of contracts with Saudi telecom provider stc to provide the latter with technical, administrative and logistical services for some of its projects, at a combined value of SAR 372.92 million, according to a Tadawul statement.

Under the deals, solutions will offer data center installation and supply services to several projects owned by stc — a related party, including VMware, Red Hat and Microsoft, while handling operating licenses for them.

It will also manage the design and implementation services affiliated with stc, namely service integration and the delivery of solutions to customers, besides addressing client requirements, logistics and support.

This is in addition to updating and replacing existing data servers.

The agreements are valid for 36 months. Their financial impact on solutions’ earnings will materialize as of Q4 2022.

According to data available with Argaam, stc owns a 79% stake in solutions.