Arabian Internet and Communications Services Company (solutions) announced the signing of a contract with Saudi Telecom Company (stc) (Related Party) to build a private cloud as part of the IT infrastructure modernization & hyperscaler partnership project. Contract Subject Matter: IT infrastructure modernization & hyperscaler partnership through building a private cloud. Date of Signing the Contract: June 26, 2025 Corresponding to 1447-01-01 Contract Value: SAR 157,648,230.30.
As part of the IT infrastructure modernization & hyperscaler partnership project, the scope of this contract includes building a private cloud with the purpose of providing innovative cloud services with end-to-end architecture platform to integrate existing systems and applications with the new private cloud platform. Contract Duration: 5 years. Financial Impact and the Relevant Period: The financial impact on the company's financial statements will appear starting from the 2nd quarter of the year 2025.
