March 29, 2024

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G42 Announces Financial investment by Silver Lake

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ABU DHABI, United Arab Emirates & MENLO PARK, Calif. & NEW YORK–(Company WIRE)–Group 42 (“G42”), a foremost synthetic intelligence and cloud computing company dependent in Abu Dhabi, and Silver Lake, the world-wide chief in know-how investing, right now announced that Silver Lake has designed a sizeable investment decision in G42.

G42’s synthetic intelligence, cloud computing, and technological innovation choices have enabled its shoppers to handle a large range of options, like digitizing huge enterprises, bettering regional healthcare, and improving federal government solutions. About the past calendar year, G42 partnered with the Abu Dhabi Department of Overall health on COVID-19 pandemic administration to offer scalable diagnostics and a thriving nationwide vaccine rollout. The firm also expanded its capabilities through the acquisitions of Injazat, a regional industry chief for digital transformation IT solutions, and Khazna Facts Facilities, a industrial wholesale information center service provider. In 2020, G42 became the 1st UAE-based enterprise to set up an place of work in Israel, next the signing of the Abraham Accords.

In link with Silver Lake’s investment decision, Egon Durban, Co-CEO and Taking care of Companion of Silver Lake, will join the G42 board of administrators, which is led by its Chairman, H.H. Sheikh Tahnoun bin Zayed Al Nahyan. Other associates of the G42 board include things like Peng Xiao, Group Main Government Officer of G42 H.E. Jassem Mohamed Obaid Bu Ataba Al Zaabi, Chairman of the Abu Dhabi Section of Finance and H.E. Khaldoon Khalifa Al Mubarak, Group Chief Government Officer and Handling Director of Mubadala Expense Corporation.

“We are honored to lover with a earth-class trader like Silver Lake and very pleased to be amid their cutting-edge portfolio of technological know-how leaders,” reported Mr. Xiao. “G42 is fully commited to leveraging our artificial intelligence and cloud computing capabilities to optimize human prospective and prosperity. We aim to perform with the finest technologies and the very best companions to provide price to each individual market in the earth. Our small business verticals range from strength, to healthcare, to finance. Now is the ideal time to husband or wife with Silver Lake to further more broaden our choices.”

Mr. Durban extra, “Silver Lake’s mission is to create and grow excellent firms in partnership with founders and management teams. Underneath the visionary management of H.H. Sheikh Tahnoun and pushed by a passionate management staff headed by Peng Xiao, G42 has speedily grow to be a globally highly regarded technological know-how chief, poised to grow its technological know-how portfolio and lengthen its management in AI and digital transformation. G42 has not only experienced tremendous growth in the latest yrs, but has carried out so by partnering with large-scale purchasers to deal with the most intricate technological innovation problems. We are psyched to have this option to operate with them.”

Proceeds from the investment will be utilized to enable G42 scale in the UAE and international marketplaces. The terms of the investment transaction are private and have not been publicly disclosed.

About G42

Primarily based in Abu Dhabi, Team 42 (G42) is a primary Synthetic Intelligence and Cloud Computing company committed to the development and implementation of holistic and scalable engineering remedies. G42 is established on a few pillars: 1) essential and used investigate in Synthetic Intelligence, 2) Cloud Computing ability for the most demanding use instances, and 3) superior-effects market solutions for sectors, this sort of as Health care, Sensible Metropolis, Fintech, Oil and Gasoline, Utilities, Schooling, Aviation and Sports. G42 has an intensive world partnership community, connecting foremost international organizations that share its vision and enhance its ecosystem. For even more information and facts pay a visit to www.g42.ai.

About Silver Lake

Silver Lake is a international technology financial investment agency, with more than $79 billion in merged belongings beneath administration and dedicated cash and a team of pros centered in North The us, Europe and Asia. Silver Lake’s portfolio firms collectively crank out much more than $191 billion of profits every year and make use of far more than 441,000 men and women globally.

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