NTG Clarity signs three-year agreement in Saudi Arabia

Executive Summary

• NTG Clarity Networks Inc. signed a three-year framework agreement with a major vertically integrated real estate development company in Saudi Arabia, a portfolio company of one of the kingdom's largest investment entities.
• The agreement establishes an initial spending ceiling of approximately $18.2 million over the three-year term, with expected gross margins of approximately 36%.
• NTG will provide offshore and on-site digital transformation and software development services, focusing on Internet of Things (IoT) and smart city solutions, with revenue recognized as individual purchase orders are issued.

Key Details

• Agreement Structure: Three-year framework agreement with no minimum spend commitment.
• Financial Terms: Initial ceiling of approximately $18.2 million in spending over the term; gross margins of approximately 36%.
• Scope of Services: Offshore and on-site digital transformation and software development, with a focus on IoT and smart city solutions.
• Revenue Recognition: Revenue will be recognized as individual purchase orders (POs) are issued and work is completed.
• Disclosure Policy: NTG will disclose individual POs as they are received, with initial POs expected in the coming months.
• Customer Profile: Vertically integrated real estate development company with a diverse portfolio in the hospitality sector; portfolio company of one of Saudi Arabia's largest investment entities.
• Strategic Context: The engagement originated via referral from an existing customer (also a portfolio company of the same investment entity). NTG proactively invested in talent acquisition and delivery capacity during 2025 to ensure readiness for this contract.
• Operational Status: NTG reports no material disruption to operations or customer engagements despite recent military escalation in the Middle East. Primary delivery operations in Egypt remain unaffected, and employees in the region are safe.

Notable Quotes

• "Winning the trust of another portfolio company within one of the region's most significant investment groups is a direct reflection of the calibre of work we deliver for our existing clients," said Adam Zaghloul, vice-president of strategy and planning at NTG Clarity. "This agreement gives us a multiyear platform to grow with a customer whose digital transformation needs are expected to scale meaningfully as their projects advance. Combined with our offshore delivery model, we believe this positions us well to become a long-term strategic partner."