Arabian Internet and Telecommunication Company (solutions) announced the signing of managed services contract with Saudi Telecom Company (stc) (Related Party) to operate, maintain and support, IT Components for Saudi Telecom Company with a contract value of SAR 139,972,000. Contract period will be twenty-four months starting November 1, 2021. The project scope includes the following: E2E application monitoring and management, Analysis & design technology driven business requirements, Core Business Applications (CBA) operation and Support, Core Business Applications (CBA) Development Out-Tasking, Supervising existing Multiple Operations (MSPs) for other systems, Support & Maintenance for DevOps & RCA applications, End-User Automation Infrastructure Management, and Application Software Licenses & Capacity Management.