Riyadh - Sharikat Mubasher: Arabian Internet and Communications Services Company (solutions) signed a number of contracts totaling over SAR 651.7 million with the Saudi Telecom Company (stc) to advance information technology (IT) infrastructure in Saudi Arabia.

The 5-year contracts aim to modernize the IT infrastructure through a “technical refresh” and enhancement of application infrastructure serving computing, engineered systems, storage, backup, and databases, the company revealed in a bourse statement.

Through these contracts, both parties will join efforts to execute the Oracle Software license renewal project, which includes the renewal of Oracle software licenses and its management.

It is worth mentioning that stc is the largest shareholder with an ownership of 79% of solutions shares.