MIS signs contract for computer systems licenses renewal with Prince Sattam bin Abdulaziz University for SAR 36.7 mln

Al Moammar Information Systems (MIS) announced on Tuesday the signing of a contract for the operation and maintenance of computer systems, devices and programs and networks with Prince Sattam bin Abdulaziz University for a total amount of 36,799,590.60, including VAT for (36) calendar months.

The Company expects that the Financial Impact will be in Q3: 2023 To 2026.

The Company announced the approval of its Board of Directors to establish a 100%-owned subsidiary in Riyadh, Saudi Arabia. The subsidiary will specialize in managing, operating, and marketing data centres.

According to the published statement on Tadawual this decision is in line with MIS’s strategy to expand its operations in the data center market.

This comes after the approvals and licenses from the relevant authorities.