Adani Enterprises Subsidiary And Sirius International Holding Form Joint Venture To Drive Digital Transformation In India's Economy

Adani Enterprises Subsidiary And Sirius International Holding Form Joint Venture To Drive Digital Transformation In India's Economy

Sirius JV will capitalize on global digital transformation expertise of Sirius and Adani's strategic insights to focus on leading the US dollar 175 Billion opportunity in digitalization of the Indian economy.

FPJ Web DeskUpdated: Thursday, December 28, 2023, 01:41 PM IST
article-image
Adani Enterprises Subsidiary And Sirius International Holding Form Joint Venture To Drive Digital Transformation In India's Economy | Representative Image

Adani Enterprises Limited (AEL), through its wholly-owned subsidiary, Adani Global Limited (Adani) and Sirius International Holding Limited (Sirus), a subsidiary of International Holding Company (IHC), UAE have entered an agreement to create a new joint venture named Sirius Digitech International Limited, an entity based in Abu Dhabi, the company on Thursday announced through an exchange filing.

Sirius and Adani Forge JV

Sirius JV will be owned 51 per cent by Sirius and 49 per cent by Adani.

Sirius JV will capitalize on global digital transformation expertise of Sirius and Adani's strategic insights to focus on leading the US dollar 175 Billion opportunity in digitalization of the Indian economy.

This digital opportunity is rapidly evolving to becoming a US dollar 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.

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."

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."

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.

Adani Enterprises Limited shares

The shares of Adani Enterprises on Thursday at 1:31 pm IST were at Rs 2,843.15, down by 0.0070 per cent.

RECENT STORIES

Bank Deposits No Longer The 'Go To Option', As Govt Savings Schemes See Strong Growth

Bank Deposits No Longer The 'Go To Option', As Govt Savings Schemes See Strong Growth

ADB Approves $23 Million Loan For Fintech Development In Gujarat

ADB Approves $23 Million Loan For Fintech Development In Gujarat

Stock Market Closing February 23: Sensex At 73,142.80, Nifty Below 22,200; Indices End Day In Red

Stock Market Closing February 23: Sensex At 73,142.80, Nifty Below 22,200; Indices End Day In Red

Vice Media Announces Major Layoffs And To Stop Publishing Content On Its Site

Vice Media Announces Major Layoffs And To Stop Publishing Content On Its Site

Byju's EGM Gets Underway; Raveendran Byju Skips, Investors File Suit In NCLT

Byju's EGM Gets Underway; Raveendran Byju Skips, Investors File Suit In NCLT