2P signs SAR 36.8 mln contract with SDAIA

Logo of Perfect Presentation for Commercial Services Co. (2P)

Perfect Presentation for Commercial Services Co. (2P) inked, on Feb. 21, a SAR 36.8 million contract (inclusive of value-added tax) with Saudi Data and Artificial Intelligence Authority (SDAIA).

In a statement to Tadawul, 2P said that, under the deal, it will update and maintain the physical and virtual tape libraries - phase 3 UVTL3.

SDAIA, represented by the National Information Center (NIC), aims through this project to update and maintain the library of virtual and physical tapes and its devices and systems. It also seeks to ensure the continuity of backup process working 24 hours a day with the latest specifications and standards.

The scope of work includes ensuring that tape libraries work to keep the backup activated and return to it when needed, updating backup devices with modern devices that do the same work better, transferring and benefiting from old tapes data, attracting trained human resources capable of following up and operating backup devices and systems, alongside training Saudi technical personnel on backup devices and systems.

The contract will run for three years. It is expected to have a positive financial impact on the company's financial results for 2023, 2024 and 2025, the statement added.

No related parties are included in the deal.

2P also noted that the project was awarded before the company was listed on the main market, and was received today, March 2, after signing.