- JV 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
Adani Global Limited, Mauritius has entered into an Agreement on 28th December 2023 for formation of 49:51 Joint Venture with UAE-based Sirius International Holding. The Agreement has been executed to enable deployment of cutting-edge Artificial Intelligence (AI), Internet of Things (IoT) and Secured Blockchain Products for industrial applications, by a joint venture company (or JVCo) of Adani and Sirius.
Adani and Sirius will hold 49% and 51% shareholding respectively in the proposed JV structure with equal participation in the Board of Directors of the JVCo.
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.
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.
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.”
Sirius International Holding, a subsidiary of IHC (International Holding Company), is a global Abu Dhabi-based holding company that leverages disruptive technologies to drive cross-sector digital transformation and engineers sustainable solutions to combat climate change.