Riyadh – Mubasher: Al Moammar Information Systems Company (MIS) has signed two contracts totalling SAR 84.5 million with Edarat Communications and Information Technology Company on 23 January.

The first agreement is valued at SAR 27.5 million and covers IaaS cloud hosting services that support SaaS, according to a bourse disclosure on Sunday.

The duration of this contract is 60 months, while the financial impact will commence in the first quarter (Q1) of 2022 and last for a five-year period.

In a separate bourse filing, MIS said it penned another contract with Edarat Communications for SAR 57 million to provide data centres services.

The contract duration is 18 months, during which the financial impact will be reflected, while the effect will commence in Q1-22.

It is worth noting that MIS owns 50% Edarat Communications’ capital.