Saudi Azm signs contract with Communications Ministry worth over 10% of 2021 revenue

Logo of Saudi Azm for Communication and Information Technology Co.

Saudi Azm for Communication and Information Technology Co. signed a contract with the Ministry of Communications and Information Technology to provide consulting and administrative support services to the gaming program, as part of the initiatives of the Digital Content Council.

In a statement to Tadawul, the company said the contract value exceeds 10% of 2021 total revenues.

Its duration is 24 Gregorian months from the date of commencing work.

The deal includes bridging the digital gap between supply and demand for skills to stimulate the gaming sector. This is besides increasing the Saudization rates and raising the quality of training and employment outputs for digital talents, complementing the labor market through qualified and trained national talents.

According to the statement, the contract is expected to have a positive impact on the company's financials for 2023/2024.

The deal was awarded on Sept. 21, 2022, and signed on Oct. 19. The necessary signatures were completed and a copy of the contract was received on Oct. 30.