Page 14 - SAMENA Trends - November-December 2021

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MEMBERS NEWS

stc Signs 3 Agreements and Launches the New

Data Center in Jeddah

stc signed partnership agreements with prominent of these agreements are the It combines many digital services that
a number of specialized companies in ones concluded with SBM, with the aim to ensure fast and secure access to the high
support of establishing modern, new increasing the efficiency of data centers capacity local and international network
generation of cloud-based data centers. using flexible and advanced technologies; that connects various IGW and MPLS
As part of the third phase of the data Huawei, with the aim to supporting data networks. The center comes as a part of
centers project, stc recently launched a centers by ensuring a flexible flow of data stc’s strategic plans for data centers to
new data center in Jeddah. These steps and digital information traffic between enable the company to be a gateway to
aim to expand the stc's capabilities different technical facilities to maintain the digital infrastructure of the Middle East
and capacities and accelerate the business continuity; and MMR, which and to achieve the digital transformation of
implementation of the Kingdom's digital the aim to enhancing the infrastructure the Kingdom by providing important digital
transformation goals through a flexible of modern data centers. In addition, stc availability areas that secure an integrated
and global-level data distribution process. inaugurated the new data center in Jeddah set of secure services and service
Through these agreements, stc also seeks under the third phase of the data centers management at the global level, in addition
to accelerate the stages of advanced digital project. It is the first neutral data center to improving its digital technologies and
transformation, consolidate the Kingdom’s in the region and its capacity amounts communication services across the major
role as a regional digital hub for cloud to 1.2 megawatts and 150 server racks. cities in the Kingdom, including Jeddah.
computing that attracts innovation-based
technology investments in the region by
providing cloud services to public and
private entities and contributing to storing
and processing their data. Thus, the cyber
risks as well as the operating expenses
of these entities would be reduced in
line with cyber security standards and
controls provided by data centers in
the Kingdom. These agreements are an
extension of the third phase of the stc's
newly launched data centers project, the
largest in the region. This phase would
provide seamless data distribution on
a global level in compliance with the
objectives of the Saudi Green Initiative for
Environmental Sustainability. The most

Successful Completion of stc Secondary Public Offering with a Total

Offering Size of SAR 12 billion

The Public Investment Fund (“PIF” or shares representing 6.0% of stc’s share Arabia since the IPO of Saudi Aramco, the
“The Fund” or the “Selling Shareholder”) capital were sold to local and international largest secondary follow-on transaction
and Saudi Telecom Company (“stc” or the institutional investors and retail investors in EMEA in the last three years and the
“Company”), Saudi Arabia’s leading ICT by way of a secondary public offering, largest secondary follow-on transaction
provider whose ordinary shares are listed the first of its kind in the Saudi capital in CEEMEA in nearly ten years. Yazeed A.
on the Saudi Stock Exchange, announced market. The total offering size reached Al-Humied, PIF Deputy Governor, Head
today the successful completion of the SAR 12 billion, which makes it the largest of MENA Investments commented: “The
secondary public offering. 120 million equity capital markets transaction in Saudi strong interest that this Offering has

14 NOV-DEC 2021