MIS

25 July, 2024 15:36

Al Moammar Information Systems Co. Announces a joint Contract Sign Off with Microsoft Arabia Limited and Saudi Data Center Fund 1 for the purpose of providing colocation and data center services (1 Data center) with an approximate value representing more than 50 % from the last annual revenues (2023) of the company

Element ListExplanation
Introduction Al Moammar Information Systems (MIS) announces the signing of a joint contract with Microsoft Arabia Limited and Saudi Data Center Fund 1 for the purpose of providing colocation and data center services with an approximate value representing more than 50 % from the last annual revenue (2023) of the company. Al Moammar Information Systems Co. MIS is a party to this contract due to its role as the exclusive leasing agent and the facilities manager for the six data centers owned by Saudi Data Center Fund 1 .
Date of Announcement of the Award 2024-07-25 Corresponding to 1446-01-19
Contract Subject Matter Colocation and Data Center Services
The Entity with Which the Contract was Signed Microsoft Arabia Limited - Saudi Datacenter Fund 1
Date of Signing the Contract 2024-07-25 Corresponding to 1446-01-19
Contract Value approximate value representing more than 50% from the last annual revenue (2023) of the company
Contract Details Provision of Colocation and Data Center Services for (1) Data Center
Contract Duration 10 Years with two optional extension terms of (5) Years each
Financial Impact and the Relevant Period Positive financial impact starting from first half of 2026
Related Parties Not applicable
Additional Information The agreement allows Microsoft Arabia Limited an option to increase the reserved capacity up to 300% of the initial capacity. The company shall announce any relevant developments in due course.

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