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FINANCIAL NEWS
Saudi Mobily awards IBM USD280m contract
06 Aug 2012
(MENAFN) IBM has won a USD280 million contract from Saudi mobile operator Etihad Etisalat (Mobily) to outsource its information technology operations, Reuters reported.
The five-year contract will be self-financed and will lead to improvements in Mobily’s products as well as making the company more flexible, the company said.
Mobily, Saudi Arabia’s second largest mobile operator, reported a 22 percent rise in second-quarter profit to USD378.16 million.
Etisalat plans to up its 28 percent stake in Mobily, its CEO said last month, as the UAE firm concentrates on high growth, high population countries like Saudi Arabia.
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