Saudi Azm inks deal with Ministry of Communications, value exceeds 25% of 2021 revenue

Logo of Saudi Azm for Communication and Information Technology Co. 

Saudi Azm for Communication and Information Technology Co. announced on May 19 signing a contract with the Ministry of Communications and Information Technology, at a value exceeding 25% of 2021 revenue, according to a bourse filing. 

The project, which will extend for 24 months starting from the date of construction commencement, aims to offer advisory services to the digital transformation accelerator program for 2021 as well as the Ministry’s digital transformation unit to support its operations in leading and accelerating the digital transformation in sectors and programs.

The agreement, according to Saudi Azm, will contribute to accelerating the Kingdom’s digital transformation process and achieving the goals of the Saudi Vision 2030, while leading and expediting the transformation into a digital economy.

The move is expected to have a positive financial impact on the company's financial results for 2022, the company said, adding that the deal does not have any related parties.