Mubadala Investment Company, Abu Dhabi’s strategic investment arm, has invested in US-based enterprise software company Medallia as part of its efforts to pivot towards the industries of the future.
The minority investment in the customer experience management specialist took place in collaboration with Thoma Bravo, which recently took Medallia private, Mubadala said on Wednesday. It did not disclose the value of investment.
Thoma Bravo took San Francisco-based Medallia private in October in an all-cash transaction valued at $6.4 billion.
Medallia captures experience data from customers and employees across several channels. The data is then analysed using the company’s proprietary artificial intelligence and machine learning technology to come up with predictive insights to drive business actions and outcomes.
Mubadala intends to diversify its asset base as it continues to increase its investment in technology and health care.
In 2020 alone, at the height of the Covid-19 pandemic, the Abu Dhabi company invested $29.4bn, including in technology and life sciences, sectors vital to the future of the UAE and Mubadala.
It invested $250 million in US biosimulation software company Certara in July as part of its international healthcare and investment portfolio.
In March, the fund agreed to plough £800m into Britain's life sciences industry over the next five years as part of a £1bn deal between the UK and the UAE.
Mubadala is at the heart of the government’s plans to diversify Abu Dhabi's revenue base and generate income from sources other than oil.
The sovereign fund’s $243.4bn investment portfolio spans five continents. It has interests in aerospace, information and communications technology, semiconductors, metals and mining, renewable energy, oil and gas, and petrochemicals.
The biog
Siblings: five brothers and one sister
Education: Bachelors in Political Science at the University of Minnesota
Interests: Swimming, tennis and the gym
Favourite place: UAE
Favourite packet food on the trip: pasta primavera
What he did to pass the time during the trip: listen to audio books
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
WHAT%20IS%20THE%20LICENSING%20PROCESS%20FOR%20VARA%3F
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THE BIO
Occupation: Specialised chief medical laboratory technologist
Age: 78
Favourite destination: Always Al Ain “Dar Al Zain”
Hobbies: his work - “ the thing which I am most passionate for and which occupied all my time in the morning and evening from 1963 to 2019”
Other hobbies: football
Favorite football club: Al Ain Sports Club
UAE currency: the story behind the money in your pockets
Moon Music
Artist: Coldplay
Label: Parlophone/Atlantic
Number of tracks: 10
Rating: 3/5
