Abu Dhabi – Mubasher: Sirius Digitech, a joint venture (JV) between the Adani Group and Sirius International Holding, a subsidiary of International Holding Company (IHC), has signed binding agreements for the acquisition of Coredge.io, a cutting-edge sovereign AI and cloud platform company.

Coredge is an innovative venture specialising in sovereign cloud technology, providing secure, scalable, AI-ready cloud solutions for government, and enterprise clients, according to a press release.

Known for its expertise in aiding local cloud service providers with strict data sovereignty and compliance measures, Coredge aims to develop a comprehensive solution stack for sovereign data centres.

This stack will include bare metal servers and services like infrastructure as a service (IaaS) and platform as a service (PaaS) based on open-source technologies.

These advancements will enable Sirius Digitech to offer Machine Learning as a Service (MLaaS). Sirius Digitech is committed to supporting and investing in Coredge’s AI and cloud platform to meet global customer needs.

Jeet Adani, Director of Adani Group, said: “Sovereign Data Centers become extremely important for protecting sensitive information and maintaining national security, given the exponential growth in artificial intelligence-driven demand for computation and sovereign data stack.”

Ajay Bhatia, CEO of Sirius International Holding, stated: “Coredge’s has demonstrated a global presence with the ability to scale solutions through sovereign AI cloud services that are globally available but locally operable.”

Arif Khan, CEO of Coredge.io, commented: “Together, we can accelerate the development and delivery of advanced AI services while upholding security, privacy and digital sovereignty principles, helping customers across the globe drive technological transformation while complying with their data ethics principles.”

It is noteworthy that IHC logged a net profit of AED 8.01 billion in the first quarter (Q1) of 2024, compared to AED 4.27 billion in Q1-23.