What is Solutions by STC
Solutions by STC is a technology company that belongs to the Saudi Telecommunication Company (STC). The company focuses on providing information and communications technology services. It’s one of the most important IT service providers in Saudi Arabia.
The company was first created back in 2003 and has grown into a major player in the Saudi tech industry. Today, it serves businesses, government agencies, hospitals, schools, and many other organizations across the Kingdom.
How Did Solutions by STC Start
The Beginning in 2003
The company officially started on January 11, 2003, as a private limited company with initial capital of SAR10 million. It was registered in Riyadh’s commercial registry with registration number 1010183482.
Growing Over the Years
Since its founding, the company has grown significantly. Here’s how its capital increased:
First Growth (2011): The company’s owners decided to increase capital from SAR10 million to SAR100 million to support expansion.
Second Growth (2020): A major increase happened on November 16, 2020, when capital jumped from SAR100 million to SAR1.2 billion. This large increase came from keeping profits within the company rather than taking them as dividends.
Becoming a Public Company
On December 31, 2020, Solutions by STC transformed from a private company to a closed joint-stock company. This was an important step toward becoming publicly traded.
Listing on the Stock Exchange
Getting Approval
The Saudi Stock Exchange (Saudi Tadawul) approved Solutions by STC to list its shares on May 10, 2021. Shortly after, on June 28, 2021, the Capital Market Authority gave permission for the company to sell 24 million shares to the public that’s 20 percent of the total company.
Trading Information
The company officially began trading on Saudi Tadawul on September 30, 2021. Here are the trading details:
- Company Name: Solutions
- Stock Symbol: 7202
- Market Sector: Applications and Technology Services
- Share Type: Ordinary shares
If you’re interested in investing or tracking the company’s performance, you can find this information using the symbol 7202 on the stock exchange.
You can see the current Capital of this Taiba Investments Company: Here
What Does Solutions by STC Actually Do?
Recognition and Awards
The company earned a significant honor in 2019 when the European Foundation for Quality Management (EFQM) recognized it. This makes Solutions by STC the first IT services company in Saudi Arabia to receive this prestigious award.
The Industries It Serves
Solutions by stc works with many different sectors across Saudi Arabia, including:
- Healthcare: Hospitals and medical centers
- Real Estate: Property and construction companies
- Education: Schools and universities
- Government: Saudi government agencies and departments
- Oil and Gas: Energy sector companies
- Banking: Financial institutions
- Media: News and entertainment organizations
- Telecommunications: Communication companies
Main Services Offered
Solutions by stc provides a wide range of technology solutions:
Communication and Internet Services:
Fast, secure, and reliable internet and communication services for businesses and organizations.
Business Outsourcing:
Flexible solutions that allow companies to hand over certain operations to the company’s expert team.
Cloud Computing:
Advanced cloud-based technology that helps businesses store and manage their data safely.
Internet of Things (IoT):
Innovative technology that connects devices and systems to work together efficiently.
Managed Services:
Expert teams that manage and maintain a company’s digital systems from remote locations.
Cybersecurity:
Complete protection for businesses and their data against digital threats and attacks.
Digital Infrastructure:
Complete technology systems and networks that support smooth business operations.
Systems Integration:
Connecting different technology systems and providing infrastructure that keeps everything working together.
Why Solutions by stc Matters in Saudi Arabia
As Saudi Arabia continues to modernize and digitize, companies like Solutions by STC play a crucial role. The company helps organizations move toward digital transformation meaning they update their systems and processes to use modern technology.
By offering these services, Solutions by STC helps Saudi businesses and government agencies become more efficient, secure, and competitive. The company’s mission is to support growth in business and create positive changes across society through advanced technology.
Final Thoughts
Solutions by STC represents how Saudi Arabia’s technology sector is developing. From starting as a small company in 2003 to becoming a publicly traded firm in 2021, the company has shown impressive growth. Whether you’re interested in investing, learning about Saudi tech companies, or understanding how technology is transforming Saudi Arabia, Solutions by STC is definitely a company worth knowing about.
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