WSM inks SAR 500M contract with government entity

WSM for Information Technology Co. signed a framework agreement with a government entity to provide services and works based on purchase orders, according to a statement on Tadawul.

The three-year contract, signed on July 7, is valued at SAR 500 million.

WSM said the agreement is expected to have a positive financial impact if separate purchase orders are received from the client under the terms of the agreement.

It added that any purchase orders deemed material, as defined by the Capital Market Authority (CMA), will be disclosed at the appropriate time, including the periods in which they will be reflected.

The company noted that all necessary signatures were completed and a copy of the contract was received on July 8.