Riyadh – Mubasher: Arabian Internet and Telecommunication Services Company (solutions) and Saudi Telecom Company (stc) inked contracts at a combined value of SAR 372.92 million on 1 December 2022.

Under the 36-month agreements, solutions will provide and install servers, data storage centres, in addition to its software licences, including Vmware, Redhat, and Microsoft.

It will also handle the customers’ solutions delivery, their service integration and demand, as well as logistics. The contracts cover updating and replacing data servers.

The deals will start reflecting on solutions’ income statements during the fourth quarter (Q4) of 2022.

It is worth noting that stc is the largest shareholder in solutions, holding ownership of 79%.

Last July, solutions unveiled a SAR 298.08 million deal with stc to create and enhance the latter’s internet and communications networks.

In the first nine months (9M) of 2022, stc reported a net profit after Zakat and tax worth SAR 9.41 billion, an annual rise of 8.22% from SAR 8.69 billion.

Meanwhile, solutions generated SAR 856 million net profits after Zakat and tax in 9M-22, higher by 19.22% than SAR 718 million in 9M-21.