Solutions Inks SAR 151.17 Million Contract with stc for Red Hat Licenses and Support

11 Dec 2024

Riyadh -Maaal

اقرأ المزيد

Arabian Internet and Communications Services Company (solutions) announced on Wednesday the signing of a contract with Saudi Telecom Company (stc) (Related Party) to renew the contract of providing Red Hat licences with professional services and technical support for 151.17 million riyals.

The Company explained that the contract duration is 3 years, including the provision of Red Hat licences, and the provision of the needed maintenance and technical support services.

The Company expects the financial impact to appear on its financial statements starting from the first quarter of 2025.

It is worth noting that stc is the largest shareholder in the Company and owns 79% of solutions shares.