Al Moammar Information Systems Co. Announces a joint Contract Sign Off with Microsoft Arabia Limited and Saudi Data Center Fund 1 and TONOMOUS for the purpose of providing colocation and data center services (1 Data center) with an approximate value representing more than 45 % from the last annual revenues (2023) of the company.
| Element List | Explanation |
|---|---|
| Introduction | Al Moammar Information Systems (MIS) announces the signing of a joint contract with Microsoft Arabia Limited and Saudi Data Center Fund 1 and TONOMOUS for the purpose of providing colocation and data Center services with an approximate value representing more than 45 % from the last annual revenue (2023) of the company.
Al Moammar Information Systems Co. MIS is a party to this contract due to its role the exclusive leasing agent and the facilities manager for the six data centers owned by Saudi Data Center Fund 1 . |
| Date of Announcement of the Award | 2024-07-30 Corresponding to 1446-01-24 |
| Contract Subject Matter | Colocation and Data Center Services |
| The Entity with Which the Contract was Signed | Microsoft Arabia Limited - Saudi Datacenter Fund 1 – TONOMOUS |
| Date of Signing the Contract | 2024-07-30 Corresponding to 1446-01-24 |
| Contract Value | approximate value representing more than 45% from
the last annual revenue (2023) of the company. |
| Contract Details | Provision of Colocation and Data Center Services for (1) Data Center. |
| Contract Duration | 10 Years with two optional extension terms of (5) Years each |
| Financial Impact and the Relevant Period | Positive financial impact starting from first half of 2026 |
| Related Parties | Not applicable |
| Additional Information | • The agreement allows Microsoft Arabia Limited an option to increase the reserved capacity up to 600% of the initial capacity.
• The company would like to clarify that this contract represents the third in a series of agreements signed with Microsoft for the rental of data centers. With this contract, the total number of rented data centers becomes three.
The company shall announce any relevant developments in due course. |
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