Logo ofArabian Internet and Communications Services Co. (solutions)
Arabian Internet and Communications Services Co. (solutions) signedseveralcontractswithstc, a related party,to implement a project for upgrading IT infrastructure and cloud partnerships, in addition to a project for renewing Oracle software licenses,at a total value of SAR651.7million. 
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According to a statement to Tadawul,the contracts include upgrading the infrastructure through technical enhancements and improving application infrastructure serving computing systems, engineering systems, storage, backup, and databases.
The contracts also cover the implementation of the Oraclesoftware licenserenewal project, which includes renewing and managing the licensing agreement for Oracle systems.
The5-year contract was signed on May 18, the statement noted, adding that the relevant financial impact is expected to be reflectedon the company’s financial statements starting from Q2 2025.
The statement pointed out that stc is the largest shareholder in solutions, owning a 79% stake.
Logo ofArabian Internet and Communications Services Co. (solutions)
Arabian Internet and Communications Services Co. (solutions) signedseveralcontractswithstc, a related party,to implement a project for upgrading IT infrastructure and cloud partnerships, in addition to a project for renewing Oracle software licenses,at a total value of SAR651.7million.
For more news on listed companies
According to a statement to Tadawul,the contracts include upgrading the infrastructure through technical enhancements and improving application infrastructure serving computing systems, engineering systems, storage, backup, and databases.
The contracts also cover the implementation of the Oraclesoftware licenserenewal project, which includes renewing and managing the licensing agreement for Oracle systems.
The5-year contract was signed on May 18, the statement noted, adding that the relevant financial impact is expected to be reflectedon the company’s financial statements starting from Q2 2025.
The statement pointed out that stc is the largest shareholder in solutions, owning a 79% stake.
