Deal signed remotely by the two CEOs
Saudi Arabia’s STC Group (Saudi Telecommunications Company) and Nokia signed a five-year Master Frame Agreement (MFA) to further strengthen their strategic partnership.
The agreement aims to expedite the buying process of Nokia’s latest equipment, software and services for STC Group to introduce innovative services faster to its subscribers as a pioneer.
This will allow STC Group companies to seamlessly buy advanced technologies such as 5G, Internet of Things (IoT), IP & Optical network technologies, and customer experience management from Nokia’s end-to-end portfolio for mobile and fixed networks.
For the first time in the region, the agreement was remotely signed due to COVID-19 pandemic, purely relying on software innovations and demonstrating the power of AR and AI. These technologies enabled Virtual Signing Ceremony in a digital environment. The agreement was signed by the signatories Nasser Suliman Al-Nasser, STC GCEO; and by Rajeev Suri, President and CEO, Nokia.
“This strategic partnership with Nokia, supports the Saudi Vision 2030 focused on leveraging advanced technologies for digital transformation and growth of the country, aligning with STC Rawafed Programme that aims to enhance local content,” commented Al-Nasser.
“This agreement is a major milestone in the STC-Nokia strategic ties and is a strong testimony of the solid relationship we have built,” remarked Amr K. El Leithy, SVP, Middle East and Africa markets, Nokia.
