solutions signs SAR 195 mln contract with stc for Oracle software license renewal

13/04/2022 Argaam

Logo of solutions

Arabian Internet and Telecommunication Co. (solutions) announced signing a contract with stc – a related party - to execute Oracle software licenses renewal project for 3 years, at a value of SAR 195 million, the company said in a statement to Tadawul.

 

The contract was signed today, April 13, said the company, adding that the scope of the contract is to carry out all the works and services required to execute Oracle Software license renewal project which includes the renewal of Oracle software licenses and its management.

 

The company also expects the relevant financial impact to be reflected on solutions’ financial results as of Q2 2022.

 

According to data available with Argaam, stc owns 79% of solutions.

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