Mubadala acquires stake in Group42

Khaldoon Khalifa Al Mubarak - Mubadala.jpg

Mubadala has announced that it will become a minority shareholder Group42 (G42), the Abu Dhabi-based artificial intelligence and cloud computing company.

The Abu Dhabi-based sovereign investment company will do this via the integration of Injazat and Khazna Data Centers (Khazna).

Specifically, Injazat and Khazna will become part of G42’s deep technology capabilities and accelerate G42’s cloud business and its ability to deliver holistic and scalable technology solutions while growing national talent and investing in local capacity.

“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,” said Khaldoon Khalifa Al Mubarak (pictured), CEO and managing director of Mubadala Group.

 “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.”

As part of G42, both Injazat and Khazna will have access to a global network of partners and complementary capabilities to accelerate its growth and scale given that G42 applies AI, cloud computing, and data analytics in several verticals including healthcare, smart cities, finance, energy, and consumer business.

“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,” added Peng Xiao, CEO of Group 42.

“These are two great technology entities, and this agreement reflects G42’s continuous effort to deliver cutting-edge, AI-enabled solutions to the region. Equally, 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.”

The news is the latest in G42’s efforts to add to its growing technology portfolio. In January of this year, G42 acquired Bayanat, an end-to-end geospatial data products and services provider.