Solutions pens $37.3mln deal with stc

Reuters Images/Faisal Al Nasser

The deal covers the renewal of VMware licenses and providing maintenance and technical support services for three years, according to a bourse

Staff Writer, Mubasher

April 16, 2024

PHOTO

Arabian Internet and Telecommunication Services Company (solutions) and Saudi Telecom Company (stc) penned an agreement valued at SAR 139.95 million.

The deal covers the renewal of VMware licenses and providing maintenance and technical support services for three years, according to a bourse.

The two entities signed the contract on 15 April 2024. It will reflect on the financial results of solutions starting from the second quarter (Q2) of 2024.

In January 2024, the two listed companies inked a SAR 120 million deal for bulk SMS service.

Last year, solutions recorded net profits valued at SAR 1.19 billion, higher by 13.2% than SAR 1.05 billion in 2022.

Source:Mubasher

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