Arabian Internet and Communications Services Company (Solutions by stc)

The Arabian Internet and Communications Services Company, known as Solutions by stc, is a subsidiary of the Saudi Telecommunication Company. It specializes in information and communications technology services and was established in 2003.

The company was listed on the Saudi Stock Exchange 'Saudi Tadawul' on September 30, 2021, and its shares are traded on the main market under the applications and technology services sector with the name 'solutions', symbol (7202), and International Securities Identification Number (ISIN) (SA15CIBJGH12). The company's capital is SAR1.2 billion as of the update on September 29, 2021.

The company was established on January 11, 2003, as a limited liability company with a fully paid-up capital of SAR10 million, divided into ten thousand equal cash shares with a nominal value of SAR1,000 each. It was registered in the commercial registry of Riyadh City with the number 1010183482 on January 11, 2003. The company's capital has been increased several times since its establishment. The first increase was made by the partners' resolution to amend the company's Articles of Association on March 19, 2011, from SAR10 million to SAR100 million, divided into ten million equal cash shares with a nominal value of SAR10 each. The increase of SAR90 million was met through the partners' current account. By the partners' resolution to amend the company's Articles of Association on November 16, 2020, the company's capital was increased from SAR100 million to SAR1.2 billion, divided into 120 million equal cash shares with a nominal value of SAR10 each. The increase of SAR1.1 billion was met by capitalizing retained earnings. On December 31, 2020, the company was transformed from a limited liability company to a closed joint-stock company with a fully paid-up capital of SAR1.2 billion, divided into 120 million ordinary shares with a nominal value of SAR10 each, by the Ministry of Commerce Resolution No. 144 dated December 23, 2020.

The Arabian Internet and Communications Services Company received approval from the Saudi Stock Exchange 'Saudi Tadawul' to list its shares on the main market on May 10, 2021. Additionally, it received approval from the Capital Market Authority to offer 24 million ordinary shares (representing 20 percent of the company's shares) for public subscription on June 28, 2021.

The Arabian Internet and Communications Services Company is the first information technology services company in the Kingdom to be honored by the European Foundation for Quality Management (EFQM) in 2019. The company serves various sectors, including healthcare, real estate, education, government, oil and gas, banking, media, and telecommunications. It provides innovative and integrated digital solutions for government entities, businesses, and the Saudi community at large. The company leads digital transformation across the entire value chain in the IT field to ensure business growth and societal prosperity.

The company's activities include providing unlimited communication services with secure, efficient, and high-speed coverage; offering flexible business outsourcing solutions; delivering advanced cloud computing services; offering innovative Internet of Things (IoT) technologies; providing managed services through a team of talented experts to manage digital infrastructure remotely; ensuring the protection of institutions and data with integrated cybersecurity solutions; ensuring seamless execution of digital services; and offering systems integration and connectivity services by providing infrastructure and integrated technology systems supported by a secure and robust internet network.