Mubadala acquires Hewlett-Packard’s 40% stake making it sole shareholder of the UAE’s leading IT provider
Mubadala Development Company today announced its acquisition of Hewlett-Packard’s (HP) shares in Injazat Data Systems, one of the regional market leaders for secure and business-aligned IT services. Through the acquisition of HP’s 40% stake in Injazat, Mubadala reaffirms its approach of actively investing in robust Information & Communication Technology (ICT) infrastructure and operations to drive economic growth and provide high-tech employment opportunities in Abu Dhabi.
Alongside Mubadala’s other ICT investments in telecommunications, satellite operations and data hosting, Injazat built the region’s first Tier IV Data Center, offering an ideal solution for organizations that require the highest levels of security, quality and operational reliability.
Commenting on the development, Homaid Al Shemmari, CEO of Aerospace and Engineering Services at Mubadala, said: “Taking full ownership of Injazat is another significant step in the growth and maturity of Mubadala in this sector as we build upon our portfolio of reliable and secure data storage solutions and establish a thriving ICT industry here in the UAE. We look forward to working with HP on future endeavors and exploring other synergistic opportunities.”
Ibrahim Lari, CEO of Injazat Data Systems commented: “We have experienced notable growth and success at Injazat, and can attribute this to the strong partnership we enjoyed with Hewlett-Packard. We combined local expertise with HP’s knowledge and global reach to become one of the main IT services providers in the UAE and one of the leaders in the region. We will continue offering HP’s exceptional services, in addition to a broader range of IT products.”