Axelerated Solutions inks SAR 32.24M contracts for cybersecurity system update

Axelerated Solutions for Information and Communication Technology Co. signed on June 24, two contract worth SAR 32.24 million (incl. 15% VAT) with Najm for Insurance Services Co. to update cybersecurity systems, renew operating technical support services, and increase server capacity, according to a statement to Tadawul.

The relevant financial impact will likely appear on the company’s financial statements during years 2025, 2026, and 2027.        

All necessary signatures have been completed, and a copy of the contract was received.

The contracts included no related parties, the statement added.