Etisalat Group, the UAE’s biggest telecoms operator, and artificial intelligence services provider G42 signed a binding agreement to merge their data centre services to create the UAE's largest data centre provider in an effort to cater to the rising digital requirements.
The joint venture, which will combine 12 data centres owned by the Abu Dhabi-based companies, will operate under Khazna Data Centres.
G42 and Etisalat Group will own 60 per cent and 40 per cent, respectively, in the new joint venture, the companies said on Wednesday.
The deal will allow both parties to increase the value of their infrastructure assets, without affecting their respective commercial positioning, client relationships and leading market positions.
“Etisalat and G42 are embarking on a bold new journey that will allow us to leverage our investments and expertise to deliver next-generation digital infrastructure," said Etisalat Group chief executive Hatem Dowidar.
Data consumption has increased over the past year owing to the coronavirus-induced remote work trends and this has fuelled the adoption of cloud services.
The data centre market in Mena region is expected to grow at a compounded annual growth rate of around 8 per cent to hit $5 billion by the end of 2026, according to a study released this year by Arizton Advisory and Intelligence.
The UAE has led in terms of attracting investment into data centres, the study showed.
In 2019, Software company Microsoft opened two data centres, one each in Abu Dhabi and Dubai. Amazon Web Services, the world's biggest cloud storage service provider, said it will open three data centres in the UAE in the first half of 2022.
Dubai-based telecoms operator du last month began operations at its own data centres, one in Abu Dhabi and the other in Dubai.
Peng Xiao, group chief executive of G42, said the partnership will strengthen the UAE’s data centre capabilities and its economic ambitions.
"As data storage and cloud infrastructure demand continues to rise in the UAE and globally, this new partnership between Etisalat and Khazna, our data centre business, will allow the country to accelerate its digital transformation journey, propelling public and private organisations into a new era of intelligence, resilience, flexibility and commerciality," he said.
Hassan AlNaqbi, chief executive of Khazna Data Centres, said the company, with a capacity of 300 megawatts, will be the "crown jewel" that will support the growth trajectory of businesses and their ability to manage the level of connectivity required to effectively deliver services to partners, customer and users.
Etisalat and G42 are embarking on a bold new journey which will allow us to leverage our investments and expertise to deliver next-generation digital infrastructure
Hatem Dowidar,
chief executive of Etisalat Group
Salvador Anglada, chief business officer of Etisalat Group, said the “combination of our data centre capabilities will deliver a unique portfolio of infrastructure services for current customers and will also create a market leader for the future to global hyper-scalers".
"We believe that this transaction will further strengthen the UAE as a preferred destination for global technology companies seeking world-class presence in the region, and propel the development of the digital ecosystem in support of the growth ambitions, which UAE is well positioned to capitalise upon.”
The closing of the transaction is subject to customary procedures, including the finalisation of transaction documents, regulatory approvals and certain administrative procedures.
Types of fraud
Phishing: Fraudsters send an unsolicited email that appears to be from a financial institution or online retailer. The hoax email requests that you provide sensitive information, often by clicking on to a link leading to a fake website.
Smishing: The SMS equivalent of phishing. Fraudsters falsify the telephone number through “text spoofing,” so that it appears to be a genuine text from the bank.
Vishing: The telephone equivalent of phishing and smishing. Fraudsters may pose as bank staff, police or government officials. They may persuade the consumer to transfer money or divulge personal information.
SIM swap: Fraudsters duplicate the SIM of your mobile number without your knowledge or authorisation, allowing them to conduct financial transactions with your bank.
Identity theft: Someone illegally obtains your confidential information, through various ways, such as theft of your wallet, bank and utility bill statements, computer intrusion and social networks.
Prize scams: Fraudsters claiming to be authorised representatives from well-known organisations (such as Etisalat, du, Dubai Shopping Festival, Expo2020, Lulu Hypermarket etc) contact victims to tell them they have won a cash prize and request them to share confidential banking details to transfer the prize money.
* Nada El Sawy
Company profile
Name: GiftBag.ae
Based: Dubai
Founded: 2011
Number of employees: 4
Sector: E-commerce
Funding: Self-funded to date
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Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
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Expo details
Expo 2020 Dubai will be the first World Expo to be held in the Middle East, Africa and South Asia
The world fair will run for six months from October 20, 2020 to April 10, 2021.
It is expected to attract 25 million visits
Some 70 per cent visitors are projected to come from outside the UAE, the largest proportion of international visitors in the 167-year history of World Expos.
More than 30,000 volunteers are required for Expo 2020
The site covers a total of 4.38 sqkm, including a 2 sqkm gated area
It is located adjacent to Al Maktoum International Airport in Dubai South
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