Solutions by stc
Riyadh-based ICT services company listed on Tadawul (7202) and majority-owned by stc, offering system integration, cloud, cybersecurity, connectivity, IoT and high-performance computing.
Industry: ICT and digital services | Location: Riyadh, Saudi Arabia | Founded: 2002
About Solutions by stc
solutions by stc, legally Arabian Internet and Communications Services Company, is a Riyadh-based information and communications technology provider and a subsidiary of the Saudi telecom group stc. Company profiles describe it as having been founded in 2002, and it has been listed on the Main Market of the Saudi Exchange (Tadawul) under the ticker 7202 since 2021. The company sells end-to-end IT services to government and enterprise customers in Saudi Arabia. Its portfolio covers system integration, cloud computing, cybersecurity, managed services, connectivity, Internet of Things and high-performance computing. Its own 2024 annual report puts its share of the Saudi IT services market at 22.7 percent, the largest in the Kingdom, while another profile cites a share of nearly 20 percent of the business-to-business IT services market. Its listing was one of the larger Saudi offerings of 2021. The Capital Market Authority approved the sale of a 20 percent stake, or 24 million shares, in June 2021, with an indicative range of 136 to 151 riyals per share. The offering priced at the top of the range, at 151 riyals, and raised about USD 966 million (SAR 3.624 billion), with the institutional order book reported as 130 times oversubscribed, according to Argaam, Gulf News and Arab News. The company has grown through partnerships and acquisitions. It completed the purchase of a 40 percent stake in Devoteam Middle East for SAR 296.69 million (USD 79.1 million), in a deal valuing the regional Devoteam subsidiary at SAR 741.7 million, and its own timeline lists this among its 2024 milestones. In March 2025 it announced a 5G agreement with Nokia, and in June 2025 it formed a strategic partnership with ST Engineering iDirect on satellite communications to support digital transformation and local content. The company's timeline also records a joint venture called Nile MEA with the US firm Nile, and a 2025 joint venture with JedCo, Amanah Tech, aimed at public-private partnership opportunities. It has a five-year framework agreement with Aramco to supply digital computing infrastructure servers, and a reported SAR 1.4 billion (USD 372.5 million) collaboration with Aramco to deploy a next-generation supercomputer. It also holds multi-year contracts with its parent stc, including a three-year network build-out contract. Its systems-integration subsidiary, Pulse by Solutions, formerly Giza Systems, is the subject of a June 2026 report that the group plans to float it by 2028 at the latest, with Saudi Arabia, Egypt and the UAE under review as venues and none yet settled.
Leadership
- Omer Alnomany, Chief Executive Officer
- Ahmed El Harany, Chief Executive Officer, Pulse by Solutions