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Solutions signs 159.7m Riyal STC deal
The Arab Company for Internet and Communications Services (Solutions) has signed a strategic contract with Saudi Telecom Company (STC) valued at a total of 159.71 million Saudi riyals, aimed at renewing licenses for AI software and digital solutions. The terms of the contract will be implemented over a period of 36 months to ensure the continuity of technical operations and improve infrastructure efficiency. The financial impact is expected to become evident starting from the third quarter of 2026. It is worth noting that STC holds a controlling stake of up to 79% in Solutions. The agreement is intended to support and update the technical systems to keep pace with developments in the telecommunications and information technology sector.
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