Mubadala Acquires Stake in G42 Group

Abu Dhabi – Mubasher: Mubadala Investment Company, the sovereign investment fund owned by the Abu Dhabi government, announced its investment in the “G42” group specializing in artificial intelligence and cloud computing, which is based in Abu Dhabi.

According to the agreement, Mubadala’s Data Center (Khazna) Company and Injazat Company will join the “G42” group to enhance its technical capabilities, according to a press release.

Injazat and Khazna are among the leading local companies in the technology sector. Mubadala has worked to develop them over the past decade under the umbrella of its information and communication technology sector.

The two companies will contribute to revitalizing the G42’s cloud technology business and enhancing its ability to provide comprehensive technological solutions, as well as developing the skills of national cadres and local capabilities.

Under the agreement, Mubadala will become the owner of a minority stake in the G42 group.

Through this acquisition, the G42 Group aims to complement its portfolio of solutions and leverage its unique expertise in data analytics and artificial intelligence technologies to provide ground-breaking products to its client group.

They will gain access to a global network of partners and a range of capabilities that will enable them to accelerate and expand their growth.

Today’s announcement comes as part of the G42 Group’s efforts to expand its growing technology portfolio.

In January 2020, the company announced the acquisition of Bayanat, a comprehensive and specialized geospatial data services and products provider.

In September 2020, the “G42” group became the first company based in the UAE to open an office in Israel, and this followed the signing of the “Ibrahim Agreement”.

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