The Adani group will have a 49% hold over the entity (Representational)
Adani Enterprises Limited, through its subsidiary, Adani Global Limited, and Sirius International Holding Limited, a subsidiary of International Holding Company, have signed an agreement to create Sirius Digitech International Limited, or Sirius JV, which is a new joint venture based in Abu Dhabi.
The Adani group will have a 49% hold over the entity, while the remaining 51% will be owned by Sirius.
The Sirius JV will capitalize on the global digital transformation expertise of Sirius and Adani Global Limited's strategic insights to focus on leading the $175 billion opportunity in the digitalisation of the Indian economy, an official statement by the Adani Group said. "This opportunity is rapidly evolving to become a trillion-dollar market by 2030," it added.
The 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.
"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," Adani Enterprises said in a statement.
Speaking about the joint venture, the spokesperson for 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."
The 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, the official statement by Adani Group said.
"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," it added.