solutions signs SAR 261.9M contract with center3

08:55 AM (Mecca time) Argaam
Logo ofArabian Internet and Communications Services Co. (solutions)

Logo of Arabian Internet and Communications Services Co. (solutions)

Arabian Internet and Communications Services Co. (solutions) signed a contract, on Nov. 18, with center3, a related party, to provide data-center hosting services across various regions in the Kingdom.

 

The contract is valued at approximately SAR 261.9 million, aiming to enable solutions to expand its cloud service offerings and enhance operational readiness to meet market demands and customer needs, the company said in a statement to Tadawul today, Nov. 19.

 

solutions noted that the contract covers a period of five years and is expected to positively impact the company’s financial performance starting from the fourth quarter of 2025 and continuing throughout the contract term.

 

The related-party status is due to stc being the largest shareholder in both entities, holding 79% of solutions’ shares and 100% of Center3’s shares, the statement said.

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