Edarat inks SAR 8.6M cloud service contract with NEOM

Edarat Communication and Information Technology Co. received on Oct. 25 a new purchase order worth SAR 8.63 million for an existing cloud services contract with NEOM to provide Infrastructure as a Service (IaaS) and Platform as a Service (PaaS) worth SAR 8.63 million, including VAT.

In a statement to Tadawul, Edarat pointed out that the new 12-month contract is an extension of an existing contract announced on May 10, 2023, to provide cloud services to NEOM.

A positive financial impact is expected to reflect on the company’s financial statements starting from the fourth quarter of 2024, the statement added, noting that there were no related parties to the deal.