{{Short description|Saudi Arabian telecommunications company}} {{Lowercase title}} {{Use dmy dates|date=April 2020}} {{Infobox company | name = Saudi Telecom Company | logo = STC-01.svg | logo_class = logo-nobg | logo_size = 230px | logo_caption = Logo used since December 2019 | logo_alt = | image = | image_size = | image_alt = | image_caption = | trading_name = Saudi Telecom Company | native_name = شركة الاتصالات السعودية | native_name_lang = ar | type = Public; joint-stock company | foundation = {{Start date and age|1998|4|21|df=y}} | founder = Government of Saudi Arabia | traded_as = {{Saudi Stock Exchange|7010}} | hq_location_city = Riyadh | hq_location_country = Saudi Arabia | area_served = {{ubl|Saudi Arabia|Bahrain|Kuwait}} | key_people = {{ubl|HRH Prince Mohammed K.A. Al-Faisal ({{abbr|Chairman}})<ref name="our-leadership">{{cite web |title=قيادتنا |url=https://www.stc.com/content/stcgroupwebsite/sa/ar/who-we-are/board-of-directors-and-executive-management.html |website=stc.com |publisher=Saudi Telecom Company |access-date=9 February 2024 |language=ar}}</ref>|Yazeed Abd Al-Rahman Al Humied ({{abbr|Vice chairman}})<ref name="our-leadership"/>|Olayan bin Mohammed Alwetaid ({{abbr|CEO|chief executive officer}})<ref name="our-leadership"/>}} | industry = Telecommunications | num_employees = 19,863<ref>{{cite news|title=Annual Report 2024|url=https://www.stc.com/content/dam/groupsites/en/pdf/stc2024-annual-report-en-new.pdf|work=stc}}</ref> | divisions = {{unbulleted list| * stc KSA * channels by stc * solutions by stc * specialized by stc * ccc by stc * sirar by stc * AQALAT * intigral * Telecom Towers Company Limited (TAWAL) * stc Bank (stc pay) * iot squared * center3 * sccc by stc<br/>(Saudi Cloud Computing Company Alibaba Cloud) }} | subsid = {{ublist| * stc Kuwait * stc Bahrain * Maxis (62%) * Telefónica (9.9%)<ref name="reuters.com">Inti Landauro and Jesús Aguado (31 October 2023), [https://www.reuters.com/markets/deals/spains-state-fund-considers-taking-telefonica-stake-after-stc-move-2023-10-31/ Spain's state fund considers taking Telefónica stake after STC move] ''Reuters''.</ref><ref>{{Cite web |title=STC Group acquires a €2.1 billion stake in Telefónica {{!}} Total Telecom |url=https://totaltele.com/stc-group-acquires-a-e2-1-billion-stake-in-telefonica/ |access-date=2023-09-06 |website=totaltele.com}}</ref> }} | products = {{ubl|Fixed-line|Mobile telephony|Internet services|IPTV}} | revenue = SAR 75.893 million (2024)<ref name="FP">{{Cite web |url=https://www.stc.com/content/dam/groupsites/en/pdf/stc_Annual-2024-en.pdf|title=CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024|access-date=March 16, 2025}}</ref> | net_income = SAR 24.689 million (2024)<ref name="FP"/> | assets = SAR 160.638 million (2024)<ref name="FP"/> | homepage = {{URL|https://www.stc.com/content/stcgroupwebsite/sa/ar/who-we-are.html|www.stc.com}} | module = {{infobox network service provider|child=yes|asn=39386}} }}
The '''Saudi Telecom Company''', ({{Langx|ar|شركة الاتصالات السعودية}}); trading as '''stc Group''', stylised as '''stc'''), provides ICT services in the Kingdom of Saudi Arabia, across the Middle East and Europe.<ref name=SaudiGazette/> The group offers landline and fixed infrastructure, mobile and data services, and broadband & cloud computing services. It also offers online payments, telecommunications, IOT, 5G, e-gaming, cybersecurity, digital entertainment, and fintech.
==History== Saudi Telecommunication Company (stc Group) was established as a Saudi joint-stock company on 21 April 1998 and began operations of telecommunications services throughout Saudi Arabia on 2 May 1998 as a wholly owned entity of the government of Saudi Arabia.<ref>{{Cite web |title=الصفحة الرئيسية |url=https://www.stc.com.sa/content/stc/sa/ar/personal/home.html |access-date=2023-04-14 |website=www.stc.com.sa}}</ref><ref>{{cite web|url=https://globusjournal.com/wp-content/uploads/2022/05/GMIT-132-JJ22-Abdulwahab-Saleh-AlWahashi.pdf|title=IMPACT OF C.S.R. ON BRAND EQUITY IN THE WAKE OF COVID-19 PANDEMIC: SPECIAL REFERENCE TO THE STC SAUDI ARABIA|website=Globus An International Journal of Management & IT|date=May 14, 2022|author=Abdulwahab Saleh AlWahashi|access-date=January 5, 2023}}</ref> The group received commercial registration as a Saudi Joint Stock Company on 29 June 1998 under registration No. 1010150269, and closed its initial public offering (IPO) in January 2003.<ref>{{cite web|url=https://edition.cnn.com/2003/BUSINESS/asia/01/07/saudi.telecom.biz/index.html|archive-url=https://web.archive.org/web/20240105174417/https://edition.cnn.com/2003/BUSINESS/asia/01/07/saudi.telecom.biz/index.html|url-status=dead|archive-date=5 January 2024|title=Saudi Telecom raises $4B in offer|website=CNN|date=January 7, 2003 |access-date=January 5, 2023}}</ref> On 11 April 2006, stc approved the increase of share capital from SR $15,000 million to SR $20,000 million through a transfer from the retained earnings to the capital.<ref>{{Cite web |title=الموافقة على قيام شركة الاتصالات السعودية بشراء حصص الشركاء في الشركة العربية لخدمات الإنترنت والاتصالات (أول نت) |url=https://www.cst.gov.sa/ar/Decisions/Pages/157-1428.aspx |access-date=2023-04-14 |website=www.cst.gov.sa}}</ref>
The Saudi Digital Payments Company (stc bank) launched in 2017, with official work beginning in 2018.<ref>{{Cite web |title=اقتصادي / الاتصالات السعودية تدشن شركة " STC Pay " للمدفوعات الرقمية وكالة الأنباء السعودية |url=https://www.spa.gov.sa/1821740 |access-date=2023-04-14 |website=www.spa.gov.sa}}</ref>
In December 2019, the company launched a new identity, and the names of its branches in Bahrain and Kuwait were changed from VIVA to stc Kuwait and stc Bahrain.<ref>{{Cite web |last=الوطن |first=الرياض |date=2019-12-19 |title=الاتصالات السعودية تطلق سمتها التجارية الجديدة |url=https://wtn.sa/a/1031356 |access-date=2023-04-14 |website=Watanksa |language=Arabic}}</ref> In June 2021, the Central Bank of Saudi Arabia approved the conversion of the Saudi Digital Payments Company (stc Pay) into a digital bank.<ref>{{Cite web |title=وزير المالية ومحافظ البنك المركزي السعودي يشكران القيادة بمناسبة موافقة مجلس الوزراء على الترخيص لبنكين محليين رقميين |url=https://www.sama.gov.sa/ar-sa/News/Pages/news-676.aspx |access-date=2023-04-14 |website=www.sama.gov.sa}}</ref> The company replaced all its 3G networks with 5G in October 2021.<ref>{{cite web|url=https://www.techafricanews.com/2021/10/28/stc-accelerates-its-efforts-to-replace-its-3g-network-with-5g/|title=stc Accelerates its Efforts to Replace its 3G Network with 5G|website=Tech Africa News|date=October 28, 2021|access-date=January 5, 2023}}</ref>
In 2021, Saudi Arabia's Public Investment Fund (PIF) sold 120 million shares in Saudi Telecom Company (stc Group) for $3.2 billion after completing a secondary share offering of stc Group.<ref name=ArabBiz/><ref name=Bloomberg/>
In February 2022, it was announced that stc subsidiary, TAWAL, has acquired the Pakistani company, AWAL Telecom Private Limited - an independent passive telecommunications tower provider, for an undisclosed sum. AWAL was rebranded as TAWAL Pakistan.<ref>{{Cite web |date=10 February 2022 |title=STC tower subsidiary enters Pakistan through acquisition |url=https://www.capacitymedia.com/articles/3830739/stc-tower-subsidiary-enters-pakistan-through-acquisition |access-date=2022-02-10 |website=www.capacitymedia.com |language=en}}</ref><ref>{{Cite web |date=2022-02-09 |title=stc unit enters Pakistani market with AWAL Telecom acquisition |url=https://arab.news/vgxxc |access-date=2023-07-18 |website=Arab News |language=en}}</ref>
In collaboration with Alibaba Group, the Alibaba Cloud was launched in May 2022.<ref>{{cite web|url=https://www.thenationalnews.com/business/technology/2022/05/25/stc-group-and-alibaba-to-set-up-238m-saudi-cloud-services-venture/|title=STC Group and Alibaba to set up $238m Saudi cloud services venture|website=The National News|date=May 25, 2022|author=Alvin R Cabral|access-date=January 14, 2023}}</ref> Center3, a new digital infrastructure assets company owned by stc Group, was launched in October 2022.<ref>{{cite web|url=https://www.arabnews.com/node/2175951/corporate-news|title=stc launches Center3 for Kingdom's digital economy|website=Arab News|date=October 5, 2022|access-date=January 14, 2023}}</ref> The company also completed the first global 1.2T/channel trial in its DWDM optical network.<ref>{{cite web|url=https://www.capacitymedia.com/article/2as5vlk79i5nn0cnpnl6o/news/stc-and-huawei-completes-dwdm-1-2t-channel-trial|title=stc and Huawei completes DWDM 1.2T/channel trial|website=Capacity Media|date=October 21, 2022|author=Natalie Bannerman|access-date=January 14, 2023}}</ref>
In February 2023, GO Telecom partnered with the company to provide IoT services throughout stc Group’s network.<ref>{{cite web|url=https://www.techafricanews.com/2023/02/13/stc-and-go-telecom-to-enable-advanced-iot-services-to-empower-individual-and-corporate-sectors/|title=stc and Go Telecom to Enable Advanced IoT Services to Empower Individual and Corporate Sectors|website=Tech Africa News|date=February 13, 2023|author=AKIM BENAMARA|access-date=January 5, 2023}}</ref> Microsoft and stc also expanded their partnership that same month to further advance digitalization across Saudi Arabia.<ref>{{cite web|url=https://news.microsoft.com/en-xm/2023/11/02/stc-group-collaborates-with-microsoft-to-unlock-the-potential-of-innovation-in-corporate-digital-transformation/#:~:text=By%20jointly%20developing%20and%20deploying,the%20Kingdom%20to%20the%20world|title=stc group collaborates with Microsoft to unlock the potential of innovation in corporate digital transformation|website=Microsoft|date=November 2, 2023|access-date=January 7, 2023}}</ref> It was announced in March 2023 that stc Group would provide the digital infrastructure for the Formula 1 Saudi Arabian Grand Prix, making it the company’s third consecutive year of partnership.<ref>{{cite web|url=https://www.arabnews.com/node/2272406/corporate-news|title=stc digitally powers F1 Saudi Arabian Grand Prix 2023|website=Arab News|date=March 20, 2023|access-date=January 7, 2023}}</ref> Saudi Telecommunication Company's subsidiary TAWAL officially began operations in Europe in August of that year.<ref name=SaudiGazette>{{cite web|url=https://saudigazette.com.sa/article/635275/BUSINESS/stc-group-officially-begins-operation-in-Europe|title=stc group officially begins operation in Europe|website=Saudi Gazette|date=August 27, 2023|access-date=January 5, 2023}}</ref>
In September 2023, it was announced stc Group had acquired a 9.9% stake in the Madrid-headquartered multinational telecommunications company, Telefónica, S.A.. The deal was worth €2.1 billion - making stc Group the company’s largest shareholder.<ref>{{Cite web |title=STC Group acquires a €2.1 billion stake in Telefónica {{!}} Total Telecom |url=https://totaltele.com/stc-group-acquires-a-e2-1-billion-stake-in-telefonica/ |access-date=2023-09-06 |website=totaltele.com}}</ref><ref>{{Cite web |last=Staff |first=TelecomTV |date=2023-09-06 |title=What's up with… Telefónica & STC, Nexfibre & Upp, Arm's IPO |url=https://www.telecomtv.com/content/access-evolution/what-s-up-with-telef-nica-stc-nexfibre-upp-arm-s-ipo-48400/ |access-date=2023-09-06 |website=TelecomTV |language=en}}</ref>
== Investment funds == In 2017, the InspireU business accelerator was launched. Since the program’s inception, the InspireU accelerator has supported over 90 digital projects, with investments and financial transactions hitting a market value of $SAR 12 billion. Over 40 million users have benefited from InspireU’s projects.<ref>{{cite news |title=Entrepreneurs bag over $186m through stc's InspireU accelerator program |url=https://www.arabnews.com/node/2310211/business-economy}}</ref>
In 2021, Saudi Arabia's Public Investment Fund (PIF) sold 120 million shares in Saudi Telecom Company (stc Group) for $3.2 billion after completing a secondary share offering of stc Group.<ref name=ArabBiz>{{cite news|url=https://www.arabianbusiness.com/money/corporate/capital-markets/saudis-pif-raises-3-2bn-from-stc-share-sale|title=Saudi's PIF raises $3.2bn from stc share sale|archive-url=https://web.archive.org/web/20211215140045/https://www.arabianbusiness.com/money/corporate/capital-markets/saudis-pif-raises-3-2bn-from-stc-share-sale|archive-date=15 December 2021|url-status=live}}</ref><ref name=Bloomberg>{{Cite web|last=Bloomberg|date=2021-12-12|title=Saudi wealth fund PIF raises $3.2bn from sale of STC stake|url=https://gulfbusiness.com/saudi-wealth-fund-pif-raises-3-2bn-from-sale-of-stc-stake/|access-date=2022-01-20|website=Gulf Business|language=en-US}}</ref>
The STV Investment Fund, which invests in small and medium-sized companies in communications and information technology, was established in 2018.<ref>{{cite news |title=Saudi Telecom Co commits extra $300 million to VC firm STV |url=https://www.reuters.com/business/media-telecom/saudi-telecom-co-commits-extra-300-million-vc-firm-stv-2022-10-26/}}</ref>
In October 2021, stc Group launched 3 data centers in Riyadh, Jeddah, and Al-Madina with a $SAR 1 billion investment.<ref>{{cite web|url=https://www.telecomreview.com/articles/telecom-operators/4412-stc-launching-3-mega-data-centers-across-saudi-arabia|title=stc launching 3 Mega Data Centers across Saudi Arabia|website=Telecom Review|date=December 30, 2020|access-date=January 7, 2023}}</ref>
The company launched its corporate investment fund (CIF) in February 2023. CIF invests in early-stage startups in the cybersecurity, AI, digital gaming, IoT, and blockchain sectors.<ref>{{cite web|url=https://www.spa.gov.sa/w1851638|title=To Invest in 9 Advanced Technological Areas, stc Launches Venture Capital Fund|website=Saudi Press Agency|date=February 8, 2023|access-date=January 7, 2023}}</ref>
As of May 2023, stc Group has invested over $SAR 3.5 billion in social, educational and health initiatives.<ref>{{cite web|url=https://www.spa.gov.sa/en/ecd1f034efc|title=stc Group Invests more than SAR 3.5 billion in Social, Educational and Health Initiatives|website=Saudi Press Agency|date=May 4, 2023|access-date=January 7, 2023}}</ref> Its ImpactU program has supported projects with a total value of $SAR 800,000. The program aims to incubate five startups annually and increase the initial investment for each to $SAR 100,000 to drive local economic growth.<ref>{{cite news |title=STC Group invests more than $933.2mln in social, educational and health initiatives |url=https://www.zawya.com/en/business/technology-and-telecom/stc-group-invests-more-than-9332mln-in-social-educational-and-health-initiatives-xrzi31ju}}</ref>
==Operations== stc Group services are divided into four broad categories: *Al-Jawal - Mobile network *Al-Hatif - Landline network *Solutions by stc - Internet services *stc Bank - Digital payment & digital wallet<ref name="Small and medium enterprises sector is perceived most vital sector">{{cite web|last1=STC website|title=STC What's on! Business Fifth Edition|url=http://www.stc.com.sa/wps/wcm/connect/english/business/resources/5/2/52870491-76db-4c49-bfaf-7c6069aa27a2/WOB-online+English.pdf|website=www.stc.com.sa|access-date=4 August 2014|url-status=dead|archive-url=https://web.archive.org/web/20140808044225/http://www.stc.com.sa/wps/wcm/connect/english/business/resources/5/2/52870491-76db-4c49-bfaf-7c6069aa27a2/WOB-online%2BEnglish.pdf|archive-date=8 August 2014}}</ref> first and largest fintech unicorn in the Middle East<ref name=CNBC/>
stc Group also offers two content platforms: *stc Play - Gaming and esports platform that allows users to participate in tournaments and access game exporters *stc TV - Entertainment streaming service
In 2020, stc Pay earned its electronic money institute (EMI) license. Western Union soon after purchased 15% shares at a $1.3 billion valuation, making stc pay the first and largest fintech unicorn in the Middle East.<ref name=CNBC>{{cite web|url=https://www.cnbc.com/2020/11/23/saudi-arabias-stc-pay-eyes-rapid-gulf-expansion.html|title=Saudi Arabia's STC Pay eyes rapid Gulf expansion after billion-dollar valuation|website=CNBC|date=November 23, 2020|author=Dan Murphy|access-date=January 14, 2023}}</ref>
The group is currently operating as a conglomerate to manage all assets, subsidiaries and joint ventures by the Saudi Telecom Group. Mohammed K. A. Al Faisal is the current chairman.<ref>{{Cite web |title=Chairman's Message |url=https://www.stc.com.sa/content/stcgroupwebsite/sa/en/investors/governance/board-of-directors/chairman-s-message.html |access-date=2023-07-18 |website=www.stc.com.sa}}</ref>
== Awards and recognition == The company is a recipient of the GSMA T-ISAC Award 2024 for Recognition of Excellence and Leadership, whereas, Nauman Khan, Telecom Threat Management Lead Consultant at stc received the GSMA T-ISAC Individual Recognition Award 2024. These awards were presented at the GSMA Mobile World Congress (MWC) 2024 in Barcelona, Spain.<ref>{{Cite web |last=سبق |date=2024-02-27 |title=مجموعة stc تحصد جائزة "المساهمين الفاعلين" في الامن السيبراني خلال المؤتمر العالمي للجوال MWC 2024 في برشلونة |url=https://sabq.org/saudia/8bs1gis50c |access-date=2024-08-13 |website=صحيفة سبق الالكترونية |language=ar}}</ref><ref>{{Cite web |title=stc Group Receives Contributors Award in Cybersecurity at MWC 2024 In Barcelona |url=https://spa.gov.sa/ |access-date=2024-08-13 |website=spa.gov.sa |language=en}}</ref><ref>{{Cite web |title= Stc Group wins GSMA T-ISAC Contributors Award for leadership in cybersecurity|url=https://www.pressreader.com/saudi-arabia/arab-news/20240303/282041922082958 |access-date=2024-08-13 |via=PressReader}}</ref><ref>{{Cite AV media |url=https://www.youtube.com/watch?v=lzMHbqXEbnA |title=MWC24 Barcelona Security Summit Session 3 - Threat Intelligence – Prevention through Sharing |date=2024-03-19 |last=GSMA |access-date=2024-08-13 |via=YouTube}}</ref><ref>{{Cite web |title=GSMA - Security and Fraud on LinkedIn: #gsma #mwc24 {{!}} 10 comments |url=https://www.linkedin.com/posts/gsma-security-and-fraud_gsma-mwc24-activity-7176518023996960769-XeYX |access-date=2024-08-13 |website=www.linkedin.com |language=en}}</ref>
In 2025, STC Group ranked eighth on Forbes Middle East's Top 100 Listed Companies 2025 list.<ref>{{Cite web |last=Mughal |first=Waqar |title=stc Group |url=https://www.forbesmiddleeast.com/lists/top-100-listed-companies-2025/stc-group/ |access-date=2026-05-04 |website=Forbes Lists |language=en-US}}</ref>
==References== {{Reflist}} {{Telecommunications companies of Saudi Arabia}} {{Authority control}}
{{DEFAULTSORT:Saudi Telecom Company}} Category:Telecommunications companies established in 1998 Category:Telecommunications companies of Saudi Arabia Category:Saudi Arabian brands Category:Mobile phone companies of Saudi Arabia Category:Companies based in Riyadh Category:Saudi Arabian companies established in 1998 Category:Public Investment Fund Category:Telecommunications companies of Pakistan Category:Companies in the MSCI Tadawul 30 Index