MIS signs two contracts to provide ‘cloud hosting’, ‘information center’ services with related party for SR84.5 mln

Al Moammar Information Systems Company ( MIS ) announced on Sunday the approval of the Board of Directors at its meeting (by scroll) on Sunday 23.01.2022 to award and sign a contract with Edarat Communications and Information Technology Company (Related Party) to provide cloud hosting services (IaaS) supporting a service known as (SaaS). The contract value is SR27.5 million (inclusive of value added tax).The contract duration is 60 months.

The company confirmed that Edarat Communications and Information Technology Company (a related party), to provide cloud hosting services (IaaS) that support the service of what is known as (SaaS), Al Moammar Information Systems Company would like to point out that the contract was made within the normal course of business and did not include any preferential benefits, and this contract will be approved during the next general assembly meeting. The financial impact and the relevant period are starting from the first quarter of 2022 and for a period of five years.

In another context, the company announced on Sunday the approval of the Board of Directors (a resolution by passing) on Sunday 23.02.2022 to award and sign a contract with the Departments of Communications and Information Technology (a related party) to provide information center services, where the amount of The value of the contract is SR57 million (inclusive of value-added tax), and the duration of the contract is 18 months.

The company said in a statement on Sunday on Tadawul that this contract was concluded within the normal course of business and did not include any preferential benefits. This contract will be approved during the next General Assembly meeting, indicating that the financial impact and the period that will be reflected on it will start from the first quarter of 2022, and for a period of 18 months (in varying proportions according to the progress of the work).