Hewlett-Packard has sold its 40 per cent stake in UAE cloud services firm Injazat Data Systems for an undisclosed amount to Mubadala.
The deal, announced on Tuesday, comes a day after HP said it would split into two listed companies, separating its computer and printer businesses from its faster-growing corporate hardware and services operations.
Abu Dhabi strategic investor Mubadala, which has stakes in General Electric and private equity firm Carlyle, now owns 100 per cent of Injazat, which provides information technology outsourcing, and cloud and data centre managed services.
“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 endeavours and exploring other synergistic opportunities,” said Homaid Al Shemmari, the chief executive of Aerospace and Engineering Services at Mubadala.
Injazat built the region’s first tier 4 data centre — designed to the highest possible security and environmental standards.
“We combined local expertise with HP’s knowledge and global reach … We will continue offering HP’s exceptional services, in addition to a broader range of IT products,” said Ibrahim Lari, the chief executive of Injazat.
* with Reuters
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