UAE - Mubasher: Silver Lake, a US technology investment firm, has made a substantial investment in Group 42 (G42), an Abu Dhabi-based artificial intelligence and cloud computing company.

Because of Silver Lake's investment in G42, the Co-CEO and Managing Partner of Silver Lake, Egon Durban, will join the G42 board, led by Sheikh Tahnoun bin Zayed Al Nahyan, according to a recent press release.

The G42 will use the proceeds of the investment in expanding in the UAE and international markets.

The terms and size of the investment have not been publicly disclosed.

The Group CEO of G42, Peng Xiao, said: "We aim to work with the best technologies and the best partners to deliver value to every market in the world. Our business verticals range from energy, to healthcare, to finance. Now is the right time to partner with Silver Lake to further expand our possibilities."

Durban commented: "G42 has not only experienced tremendous growth in recent years, but has done so by partnering with large-scale clients to address the most complex technology challenges."