IHC’s Sirius, Adani Global enters into agreement to form joint venture ‘Sirius Digitech International’

IHC’s Sirius, Adani Global enters into agreement to form joint venture ‘Sirius Digitech International’

Adani Enterprises Ltd (AEL), through its wholly owned subsidiary, Adani Global Limited and Sirius International Holding Limited (Sirius), a subsidiary of International Holding Company (IHC), UAE have entered into 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 per cent by Sirius and 49 per cent by Adani Global.

Sirius JV will capitalize on global digital transformation expertise of Sirius and Adani’s strategic insights to focus on leading the $175 billion opportunity in digitalization of the Indian economy. This digital opportunity is rapidly evolving to become a $1 trillion 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 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.”

The completion of the transaction shall be upon satisfaction of customary closing conditions including the receipt of necessary approvals.