Etisalat Group, a leading telecom group in emerging markets, and AI and cloud computing company Group 42 have announced plans to merge their data centre businesses.
A total of twelve data centres will be combined in the new joint venture business operating under the name Khazna Data Centres, creating the UAE’s largest data centre provider. Khazna is an existing data centre company with a three-facility portfolio, which will now expand significantly.
The combined business will be the largest data centre provider in the UAE, with around 300MW of capacity, according to the Data Centre Developments website.
The agreement allows both parties to increase the value of their infrastructure assets contributed to the joint venture, while also optimizing process and resource utilization, without impacting their respective commercial positioning, client relationships and leading market positions.
Khazna Data Centres will continue to develop existing business and explore new business opportunities, both in the UAE and abroad.
The company is currently owned by Abu Dhabi’s Mubadala sovereign wealth fund. Pending regulatory approval, G42 and Etisalat Group will own sixty percent and forty percent of Khazna respectively.
Based in the UAE, Etisalat Group is a multinational telecommunications services provider, currently operating in Asia, the Middle East and Africa.
G42 is an Abu Dhabi-based artificial intelligence and cloud computing company that offers solutions to the oil and gas sector, as well as government, healthcare and finance.
