solutions signs SAR 157.6M contract with stc to build private cloud

Arabian Internet and Communications Services Co. (solutions) signed a contract with Saudi telecom major stc to build a private cloud as part of the IT infrastructure modernization and cloud partnership project.

The contract is valued at SAR 157.6 million, solutions said in a statement to Tadawul.

The contract includes building the private cloud with the aim of providing innovative cloud services through an integrated infrastructure that enables the integration of current systems and applications with the new private cloud platform.

The five-year contract was signed on June 26, 2025, and its financial impact will reflect starting from the second quarter of 2025.

stc is a related party as the largest shareholder in solutions, with a 79% stake.