Dubai: The Abu Dhabi investment giant, Mubadala, has completed another major transaction, this time picking a stake in Group42, the Abu Dhabi company that specialises in AI and cloud computing. The deal will be done via the integration of Injazat and Khazna Data Centres.
Injazat and Khazna – both part of Mubadala’s information, communications and technology portfolio – will become part of G42’s expanded tech portfolio. G42 recently became one of the first UAE based companies to confirm a presence in Israel as well as contracts.
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.”
“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."