Etisalat Group and G42 have announced a binding agreement to merge their data centre (DC) offering in the UAE. They will combine twelve data centres in a joint venture business operating under Khazna Data Centers. G42 and Etisalat will own 60 percent and 40 percent of Khazna Data Centers respectively.
The parties will increase the value of their infrastructure assets and optimise process and resource utilisation, without affecting their respective commercial positioning, client relationships and leading market positions. Khazna Data Centers will continue to develop the existing business and explore new opportunities in the UAE and abroad. Closing of the transaction is subject to customary procedures, including finalisation of transaction documentation, regulatory approvals and certain administrative procedures.
