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Solutions signs 159.7M SAR deal with STC
The Arab Company for Internet Services and Communications (Solutions) has signed a strategic contract with Saudi Telecom Company (STC) valued at 159.7 million Saudi Riyals, lasting for 36 months. The contract aims to renew licenses for AI software and digital solutions to ensure the continuity of technical systems and enhance infrastructure. The direct financial impact of this agreement is expected to begin in the third quarter of 2026. STC's stake in Solutions is 79%. The contract includes provisions for technical and support services to ensure software compatibility with group systems and to boost operational efficiency through AI technologies.
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