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FINANCIAL NEWS
UAE’s Mubadala acquires full ownership of Injazat IT
08 Oct 2014
(MENAFN) Abu Dhabi’s Mubadala announced the acquisition of Hewlett-Packard’s (HP) 40 percent stake in UAE-based IT firm Injazat Data Systems for an undisclosed sum, thus making Mubadala the full owner of Injazat, Gulf Business reported.
Mubadala said that this move will help the company provide high-tech employment opportunities in Abu Dhabi, as well as building the company’s portfolio of reliable and secure data storage solutions which will help establish a thriving ICT industry in the UAE.
The deal comes a day after HP announced that it would divide itself into two companies by separating its computer and printer businesses from its corporate hardware and services operations.
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