EDITOR’S SYNOPSIS
- Groundbreaking joint venture to lead $175B digital transformation opportunity
- JV seeks deployment of cutting-edge Artificial Intelligence (AI), Internet of Things (IoT) and Secured Blockchain Products for industrial applications.
- Initial deployment to leverage Adani Group's vast industrial testbed to validate and scale its solutions.
Ahmedabad and Abu Dhabi, December 28, 2023: : Adani Enterprises Limited (AEL), through its wholly owned subsidiary, Adani Global Limited (“Adani”) and Sirius International Holding Limited (“Sirius”), a subsidiary of International Holding Company (IHC), UAE have entered an agreement to create a new joint venture named Sirius Digitech International Limited (“Sirius JV”), an entity based in Abu Dhabi. Sirius JV will be owned 51% by Sirius and 49% by Adani.
Sirius JV will capitalize on global digital transformation expertise of Sirius and Adani's strategic insights to focus on leading the $175 Bn opportunity in digitalization of the Indian economy. This digital opportunity is rapidly evolving to becoming a $1 Tn market by 2030. Sirius JV will deploy an integrated ecosystem of digital platforms by leveraging the expanding power of artificial intelligence (AI), Internet of Things (IoT) and Secured Blockchain Products across infrastructure industries and extending to areas that include FinTech, HealthTech and GreenTech.
Spokesperson at Sirius International Holding said, "We are pleased to embark on this transformative journey alongside Adani Enterprises. The partnership reflects a formidable commitment to address key challenges and unlock unprecedented opportunities in the rapidly evolving digital landscape. We believe that Sirius's expertise and Adani's dynamic approach will be instrumental in empowering businesses to thrive in the digital era with advanced technologies that optimize industries, streamline processes and foster growth."
Spokesperson at Adani Enterprises said, "Inexpensive sensorization and the power of artificial intelligence are opening up new ways to drive extreme levels of efficiency, ensure real-time decision making, and rapidly deploy transformative business models. The power of compute and the ability to deliver green energy to data centers creates a unique combination of strengths that we bring to this partnership with Sirius International Holding which has a portfolio of the most exciting digital companies relevant in today's era."
Sirius JV intends to commence deployment of cutting-edge AI and enterprise blockchain products and services for industrial applications while leveraging Adani Group's vast industrial testbed to validate and scale its solutions. By integrating Industrial digital solutions into their operations, companies are unlocking exponential levels of efficiency, productivity and innovation and in many cases completely reinventing their business models.
The completion of the transaction shall be upon satisfaction of customary closing conditions including the receipt of necessary approvals.