logo

G42 Establishes G42 Europe & UK - Middle East Business News and Information

Mid East Info13-06-2025
G42 Europe & UK launched, co-chaired by Omar Mir and Marty Edelman, driving AI solutions for private sector and infrastructure build-outs across the region.
Abu Dhabi, UAE – Friday, June 2025 – G42, the leading UAE-based artificial intelligence and advanced technology group, today announced the launch of G42 Europe & UK, a subsidiary headquartered in London. The entity will focus on delivering tailored AI solutions to Europe and UK's private sector and partnering with governments and industry to support the build-out of critical AI infrastructure across the UK and continental Europe.
G42 Europe & UK will be co-chaired by two seasoned technology leaders:
Omar Mir, International Board Member at World Wide Technology, brings over 20 years of global tech-industry experience. At WWT, Omar has spearheaded transformative initiatives across UK, Europe, the USA, and the Middle East,—driving growth in 5G, edge computing, cloud, and AI services and solutions.
Marty Edelman, Group General Counsel of G42, oversees legal and compliance strategy across the Group's diverse global operations and has been instrumental in shaping G42's governance framework as it extends into new markets.
'I am honoured to co-chair G42 Europe & UK at this pivotal moment,' said Omar Mir, Co-Chair of G42 Europe & UK. 'Our goal is to harness G42's proven AI expertise and localise it for European and UK businesses – fuelling digital transformation, enhancing competitiveness, and building resilient, sovereign AI infrastructure in partnership with public and private stakeholders.'
'UK & Europe represents a dynamic market with immense opportunity for AI-driven innovation,' said Marty Edelman, Co-Chair and Group General Counsel, G42. 'By establishing a dedicated hub in London, we strengthen our ability to serve clients with deep regulatory understanding and world-class technology solutions.'
The establishment of the new entity follows G42's growing momentum in Europe, marked by recent announcements of data centres and compute clusters in France and Italy, and rising interest from several other countries across the region.
G42 Europe & UK will leverage G42's world-class network of supercomputing nodes, data centres, and AI capabilities to deliver scalable, secure end-to-end AI services, from strategic advisory and model development to infrastructure deployment and managed services, for sectors ranging from financial services and healthcare to manufacturing and energy. The new entity will also collaborate with national and regional bodies to advance data-sovereignty initiatives and support the rollout of next-generation AI infrastructure.
About G42:
G42 is a global artificial intelligence and cloud-computing company headquartered in Abu Dhabi, UAE. Leveraging partnerships with leading technology providers and its own portfolio—including Khazna, Core42, CPX, Presight, and Inception—G42 delivers sovereign cloud solutions, AI research, and advanced analytics to clients worldwide. G42 is committed to driving responsible AI innovation that powers economic growth and societal benefit.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Egypt's FM delivers Al-Sisi message to Niger's leader, seeks deeper security ties
Egypt's FM delivers Al-Sisi message to Niger's leader, seeks deeper security ties

Daily News Egypt

time4 hours ago

  • Daily News Egypt

Egypt's FM delivers Al-Sisi message to Niger's leader, seeks deeper security ties

Egyptian Foreign Minister Badr Abdelatty met with Niger's leader, General Abdourahamane Tchiani, in Niamey on Wednesday and delivered a written message from President Abdel Fattah al-Sisi aimed at strengthening security and economic ties, Egypt's foreign ministry said. In a statement, the ministry said Abdelatty's visit came as part of a push to enhance cooperation, with the minister conveying Sisi's greetings and stressing that the trip was aimed at supporting Niger based on the historical ties between the two nations. Abdelatty highlighted the strategic importance of Niger's stability for Egypt's national security, describing the Sahel region as a 'natural extension of Egypt's strategic neighbourhood.' He said that growing terrorist threats and the spread of armed groups across the continent necessitated enhanced security cooperation and the exchange of expertise between Egypt and Niger. The talks also focused on expanding economic partnerships. The foreign minister noted that he was accompanied by a high-level delegation of 30 Egyptian business leaders to participate in the first Egyptian-Nigerien Business Forum. The forum aims to boost economic, trade, and investment cooperation, particularly in the energy, infrastructure, construction, and mining sectors. The statement said the discussions covered existing cooperation in combating terrorism and extremist ideology. Abdelatty highlighted the role of Cairo-based institutions, including Al-Azhar, which provides training for Nigerian imams and scholarships for students, as well as the Cairo International Center for Conflict Resolution and the Egyptian Agency for Partnership for Development (EAPD), which offer capacity-building programmes for Nigerian personnel. For his part, President Tchiani asked Abdelatty to convey his greetings and appreciation to President Sisi, expressing his country's gratitude for Egypt's support in facing its security and development challenges. He also praised Egypt's leading regional and international role and the support provided by Al-Azhar in religious education. The two officials also discussed regional issues, including developments in the Sahel and West Africa and the security challenges posed by the spread of terrorist organisations.

EU says China's links with Russia now 'determining factor' in ties - International
EU says China's links with Russia now 'determining factor' in ties - International

Al-Ahram Weekly

time6 hours ago

  • Al-Ahram Weekly

EU says China's links with Russia now 'determining factor' in ties - International

EU chief Ursula von der Leyen warned on Thursday that China's ties with Russia were now the "determining" factor in its relations with the European Union, as she wrapped up a tense summit in Beijing that also saw China agree to speed up exports of rare earth minerals to the bloc. China's leadership has sought to draw the European Union closer as it positions itself as a more reliable partner than the United States and a bedrock of stability in a troubled world. But while nominally intended to celebrate 50 years of diplomatic ties, the EU has made clear there are deep divisions over trade, fears that cheap, subsidised Chinese goods could overwhelm European markets and Beijing's tacit support for Russia's war against Ukraine. Brussels says China's deepening political and economic relations with Moscow since the 2022 invasion have helped Russia's economy weather sweeping Western sanctions. Beijing denies that claim. Wrapping up that summit, von der Leyen told a news conference in Beijing that the bloc had made clear that the issue was now the "determining" factor in its relations with China. She and European Council President Antonio Costa expressed "our expectations that China would follow up on our concerns and the expectation that it would use its influence to bring Russia to accept a ceasefire, to come to the negotiation table, enter peace talks and put an end to the bloodshed", von der Leyen said. She also said the bloc agreed with Beijing to an "upgraded" mechanism for Chinese exports of rare earth minerals -- another key sticking point in ties. China dominates the global industry for extracting and refining rare earths. Since April, it has required licences to export some of the strategic materials, triggering anxiety among businesses worldwide. "If there is a delay... we have now established a mechanism where the companies can immediately ask us to mediate and to find out why there's a delay on the delivery of the critical raw materials," von der Leyen said. And Costa said the officials had raised human rights concerns with Chinese counterparts. 'Deepen cooperation' China, in contrast, framed Thursday's summit as a way for the bloc and Beijing to deepen trust in a turbulent world. Welcoming von der Leyen and Costa at Beijing's ornate Great Hall of the People, President Xi Jinping said "the more severe and complex the international situation is, the more important it is for China and the EU to strengthen communication, increase mutual trust and deepen cooperation". "The challenges facing Europe at present do not come from China," he said, calling on both sides to "make correct strategic choices". Costa also stressed to the Chinese leader that the EU wanted to see "concrete progress on issues related to trade and the economy, and we both want our relationship to be... mutually beneficial". Chinese Premier Li Qiang told the EU leaders in a separate meeting that "close cooperation" was a "natural choice" for the two major economies. "As long as both China and the EU earnestly uphold free trade, the international economy and trade will stay dynamic", he said. - Climate agreement - In rare agreement, China and the EU vowed to "step up" efforts to address climate change. The warming planet is historically an area of convergence between Brussels and Beijing, with both willing to cooperate on combating climate change. Chinese and European leaders agreed on enhancing bilateral cooperation in energy transition and committed to accelerating global renewable energy deployment, a joint statement said. The EU also flagged its yawning trade deficit with China that stood at around $360 billion last year and which von der Leyen described as "unsustainable". Beijing dismissed those concerns, insisting that Brussels must "rebalance its mentality", not its economic ties with China. If EU concerns were not addressed, "our industry and citizens will demand that we defend our interests", von der Leyen told Premier Li. The EU has imposed hefty tariffs on electric vehicles imported from China, arguing that Beijing's subsidies unfairly undercut European competitors. China has rebuffed that claim and announced what were widely seen as retaliatory probes into imported European pork, brandy and dairy products. Follow us on: Facebook Instagram Whatsapp Short link:

Multiply Group Completes Acquisition of Tendam, Doubling Operational EBITDA and Expanding Global Footprint - Middle East Business News and Information
Multiply Group Completes Acquisition of Tendam, Doubling Operational EBITDA and Expanding Global Footprint - Middle East Business News and Information

Mid East Info

time13 hours ago

  • Mid East Info

Multiply Group Completes Acquisition of Tendam, Doubling Operational EBITDA and Expanding Global Footprint - Middle East Business News and Information

Tendam is Spain's second-largest apparel group by market share and one of Europe's leading omnichannel apparel groups. Tendam's 12 well-established owned fashion brands offer diversity and international exposure, further deepening the Group's presence in consumer-focused industries. The transaction, valued at AED 5.6 billion (€ 1.3 billion) enterprise value, positions Multiply Group as a key player in the global Retail & Apparel landscape. Multiply Group (ADX: MULTIPLY), the Abu Dhabi-based investment holding company that invests in and operates businesses globally, today completed its first major investment in Europe with the acquisition of a majority stake in Tendam, Spain's second-largest apparel group by market share. The deal doubles Multiply's operational EBITDA post-consolidation and expands its model to acquire standout businesses, unlock potential through capital and tech, and deliver sustained market leadership. As one of Europe's leading omnichannel apparel groups, Tendam operates more than 1,800 points of sale and runs successful digital loyalty programmes in over 80 markets, including Spain, Portugal, France, the UAE, and Latin America, making it well-positioned in the evolving retail landscape. From affordable fashion to premium styles, the company's diversified portfolio of 12 established brands caters to multiple customer segments through its leading fashion brands such as Women'secret, Springfield, Cortefiel and Pedro del Hierro, among others. Multiply now has a majority interest of 67.91% in Castellano Investments S.À R.L. ('Company') (the owner of Tendam Brands S.A.U. and other subsidiaries), with Llano Holdings S.À R.L. and Arcadian Investments S.À R.L., the corporate investment vehicles for CVC Funds and PAI Partners, remaining as minority shareholders. With this investment, Multiply Group deepens its investments in consumer-focused industries and establishes a presence in the retail and apparel sector, with Tendam becoming a platform business under Multiply's Retail & Apparel vertical. Multiply will lead the next growth phase of Tendam. This growth is predicated on further international expansion across Europe, Latin America, and the Middle East. Embedding AI across all aspects of the business, from sourcing to customer operations, will support this growth journey and will leverage the digital infrastructure the company already has in place. In addition, Multiply will support the business on targeted M&A to introduce new brands and categories. Samia Bouazza, Group CEO and Managing Director of Multiply Group, said: 'This acquisition marks Multiply Group's strategic entry into the retail and apparel sector. By securing a controlling interest in a leading omnichannel platform, we are investing in a future-focused, high-performing business model backed by an outstanding management team. Built on strong, well-established owned brands, the platform offers the agility and vision to expand into new categories and scale emerging brands globally. With our expertise in creating synergies, deploying AI, and driving strategic M&A, we are poised to accelerate growth and unlock long-term value for our shareholders.' From a strategic standpoint, the acquisition offers Multiply Group a significant opportunity to leverage Tendam's strong brand platform and proven performance to drive future growth, supported by favourable consumer tailwinds in the global apparel retail market. Jaume Miquel, Chairman and CEO of Tendam, highlighted: 'Today we are starting a new era. Together, shareholders and management team, will fully deploy the Tendam potential, extending our brands to new formats, markets and channels supported by advanced artificial intelligence and digital technology, delivering stronger growth and profitability through a unique, unrivalled omnichannel brand ecosystem.' Since 2020, driven by its proven management team, Tendam has recorded steady, quarter-on-quarter growth, strengthening its business model in core markets while expanding its international presence. At the end of June 2025, the company reported last twelve months sales of €1.4 billion and EBITDA post-IFRS 16 of €340.7 million. Multiply Group has been advised by Greenhill (a Mizuho affiliate), Hogan Lovells and KPMG on the transaction. Castellano and its current shareholders have been advised by Uria Menendez. Ramón Hermosilla Abogados and Latham & Watkins LLP were legal advisors to Tendam on this transaction. The acquisition of Tendam's businesses in Bosnia and Herzegovina will not become effective until it is authorised by the relevant competition authority, which is expected to be received shortly.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store