Mubadala, the Abu Dhabi-based sovereign investment company, on Monday announced that it will become an investor in Group42 (G42), an artificial intelligence and cloud computing company, via the integration of Injazat and Khazna Data Centres.
As a result of the transaction, Injazat, and Khazna – both nurtured over the past decade as part of Mubadala’s information, communications & technology portfolio – will become part of G42’s deepening technology capabilities.
Mubadala group CEO and managing director, Khaldoon Khalifa Al Mubarak, said: “For Mubadala, this decision is consistent with our strategy of investing in next-generation technology companies that are poised for substantial growth. G42 is highly respected as a technology leader, with a broad portfolio covering major areas including healthcare, smart cities, analytics, and energy.”
Al Mubarak added: “We incubated Khazna and Injazat and invested in them to become leaders in their field. G42 will benefit from their strong operational capabilities and complementary offerings. With the outstanding talent this adds to G42, it will continue to break new ground across many key sectors.”
Peng Xiao, CEO of Group 42, said: “We are looking forward to the expertise Mubadala brings to our organisation, having founded and grown not only these two thriving companies, but also other complementary businesses.”
Injazat is a regional market leader for digital transformation, cloud and cyber security while Khazna provides organisations with dedicated commercial wholesale data centre solutions to meet the growing need for data centre operations in the UAE.
Read more: ArabianBusiness