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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 List | Explanation |
---|---|
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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