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Mubadala and Indra sign deal for new JV
ABU DHABI — Indra, the premier IT company in Spain and a leading multinational in Europe, and Abu Dhabi’s Mubadala have signed a new agreement for joint venture projects.
According to Mubadala, the Abu Dhabi-based investment and development company, the new memorandum of understanding (MoU) is an extension of an existing relationship, setting out a framework for new technology partnerships and joint venture projects.
The agreement focuses on transport and traffic technology systems. Mubadala in 2008 signed an MoU with Indra on aerospace and security technology collaboration and since then, the two companies have delivered several projects in aerospace, automated maintenance systems and defence electronics. For Mubadala, extending this partnership enables the company to further develop technology solutions that will support Abu Dhabi’s ambitious plans for its transport infrastructure. This is critical for enabling the continued diversification of the Emirate’s economy as well as assisting urban and community development.
Jassem Al Za’abi, Executive Director of Mubadala Information and Communications Technology (ICT), commenting on the new relationship, said: “We have been working with Indra for some time now, collaborating on important projects across a wide range of technology areas. The ICT sector is vital to our plans for economic diversification and partnering with businesses that are global leaders in their field is a central part of our growth strategy. We look forward to exploring new projects and opportunities together.”
According to Indra, the new MoU bolsters their position in the Middle East as a leading technology services business.
Alfonso Fernández Rangel, Middle East Business Development Director of Indra, said: “This agreement is exciting for us because it marks another step in our continued growth in Abu Dhabi and the wider Middle East. We are pleased to be a partnering with an organisation that shares our vision for innovation and for delivering world-class services and products. I’m sure this will lead to some major technology projects very soon.”
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