Mubadala acquires stake in regional AI firm Group42

By Backend Office, Desk Reporter
Representational Image

Mubadala, the Abu Dhabi-based sovereign investment company will invest in the Abu Dhabi-based artificial intelligence and cloud computing firm Group42 or G42 through the merger of Injazat and Khazna data centers.

Both Injazat and Khazna, decade-old companies which become industry leaders as part of Mubadala’s information, communications & technology portfolio will partner with G42 in expanding their cloud business and ability to offer integrated technology solutions.

Commenting on this new investment Mubadala Group Chief Executive Officer and Managing Director, Khaldoon Khalifa Al Mubarak, stated that “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 further added that with this new investment G42 will benefit from the operational capacity of Khazna and Injazat and gain the capability to achieve new milestones. G42 recently became one of the first UAE based companies to confirm a presence in Israel.

Peng Xiao
Peng Xiao
CEO – Group 42

“We believe Injazat and Khazna’s respective expertise in end-to-end digital and data center solutions will significantly expand and enhance our product and service offering for our clients, and we welcome them into our ecosystem. These are two great technology entities, and this agreement reflects G42’s continuous effort to deliver cutting-edge, AI-enabled solutions to the region.”

With this merger, G42 aims to complement its products and services, strengthening its expertise in data analytics and artificial intelligence to provide its clients with disruptive solutions.

Both Injazat and Khazna will also get the benefit of access to a global network of partners and facilitate in accelerating their growth. G42 focus on AI, cloud computing, and data analytics in several verticals including Healthcare, Smart Cities, Finance, Energy, and consumer business.

Injazat is an industry-recognized market leader in the region that works for digital transformation, cloud and cybersecurity while Khazna offers organizations with dedicated commercial wholesale data center solutions to fulfill the emerging need for data center operations in the country. As a result of the transaction, Mubadala will become a minority shareholder in G42.