solutions signs several deals worth SAR 156.2 mln with stc to set up central storage server projects

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Arabian Internet and Telecommunication Co. (solutions) signed a number of contracts worth SAR 156.18 million with Saudi Telecom Co. (stc), a related party, to implement a centralized storage server and internet gateway through IP multi-protocol label switching in addition to network expansion.

The company said in a bourse filing that the contract duration is 24 months and the project scope includes servers, storages, backup and archive, professional technical services, licenses, and modernization of old and obsoleted platforms that will enable stc from providing modern services and proper support to customers.

This is in addition to expansion and modernization for existing nodes, expansion on core nodes, install new PREAGG nodes, expansion for KA Ethernet switches, replacement of end of support elements, and to supply, install, integrate and test services for equipment, tools, programs and systems.

The financial impact on the company's financial statements will appear starting from the first quarter of the next year.