ADDH and G42 Announce Joint Venture
Adalytyx set to bolster Abu Dhabi’s non-oil sector companies’ technological capabilities with world-class AI products and services
Abu Dhabi, UAE – December 23, 2019: Abu Dhabi Developmental Holding Company (ADDH) and Group 42 (G42) announced today the signing of an agreement to establish a joint venture to provide AI-enabled products and services to the portfolio companies of ADDH. Under the terms of the agreement, Adalytyx will be established as a separate legal and operating entity.
Adalytyx will leverage G42’s world-class digital products and domain expertise to develop a number of AI-driven business optimizations for ADDH group of companies. Solutions include applied AI research and scalable AI solutions for target industries.
The agreement will also enable ADDH to enhance efficiency and performance across its portfolio. With a mandate to pursue sustainable financial returns, ADDH is set to leverage technology in its ambition to create value, including artificial intelligence, data analytics, and machine learning.
Mohamed Al Suwaidi, CEO of ADDH, commented: “Our strategic partnership with G42 not only allows us to implement innovations and drive efficiencies across our portfolio of companies, but it also acts as a catalyst for digital modernization across multiple sectors of Abu Dhabi’s non-oil economy.”
Peng Xiao, CEO of Group 42, said: “As a leading technology provider in Abu Dhabi already working with clients across several sectors including healthcare, utilities and aviation, we are proud to partner with ADDH, one of the Emirate’s largest holding companies.”
“The partnership will allow ADDH portfolio of companies to implement digital and data transformation initiatives, as they prepare for the opportunities and challenges the 4th industrial age will inevitably present,” concluded Xiao.
The partnership with G42 is one of many digital transformation initiatives by ADDH as it plans to deploy world-class technology across its entire portfolio.