Riyadh – Mubasher: Al Moammar Information Systems Company (MIS) has signed a contract with the Saudi Authority for Data and Artificial Intelligence (SDAIA) to enhance and strengthen the AI network project.
The contract, valued at SAR 58.63 million including VAT, involves providing services and software for the designated project, according to a bourse disclosure.
MIS signed the agreement on 23 January 2025, noting that it will be valid for 36 months and is expected to positively impact the company’s financial performance starting from the first quarter (Q1) of 2025.
The collaboration with SDAIA comes after MIS’s recent project award of nearly SAR 102 million combined in contracts with the Saudi government.
It is worth mentioning that during the first nine months (9M) of 2024, MIS reported a net profit of SAR 122 million, a 351.85% surge from SAR 27 million in 9M-23.
