The Clap
Solutions has signed contracts with STC worth SAR 300 million, inclusive of value-added tax.
What
The contracts, which extend for two years, involve providing comprehensive managed services. This is achieved through the construction and expansion of cloud infrastructure platforms in data centers, as well as the management and operation of the infrastructure for various applications under STC.
So What
STC is the largest contributor to Solutions, holding a 79% stake.
Now What
The financial impact on Solutions’ financial statements is expected to appear starting from Q4-23.
