New agreement strengthens relationship with Mubadala and builds on previous initiatives in the aerospace and security sectors
Indra, the premier IT company in Spain and a leading multinational in Europe, and Mubadala, the Abu Dhabi-based investment and development company, have signed a new Memorandum of Understanding (MoU), setting out a framework for new technology partnerships and joint venture projects.
Focusing on transport and traffic, the agreement is an extension of an existing relationship between, which began in 2008 when an MoU on aerospace and security technology collaboration was signed. Since then, the two companies have delivered several projects in aerospace, automated maintenance systems and defence electronics.
Jassem Al Zaabi, Executive Director, Mubadala Information & Communications Technology (ICT), commented; "We've been working with Indra for some time now, collaborating on some exciting projects in important areas of technology development. 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."
Alfonso Fernández Rangel, Middle East Bussines 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're pleased to be a partnering with an organization 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."
The new MoU bolsters Indra's position in the Middle East as a leading technology and innovation organization. Its plans for supporting infrastructure development across the region are in close alignment with development plans of the GCC, including The Abu Dhabi Economic Vision 2030.
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.
Indra's international leadership in technology solutions for service suppliers, and transport operators, and its value-added approach were important factors in Mubadala's decision to explore further projects in partnership with the company.
Indra is a leading company in air traffic management with over 1,200 facilities in over 90 countries. The company has developed the Da Vinci system in cooperation with ADIF. The system is one of the most advanced railway platforms across the world. It already manages high speed networks in Spain or Metro of Medellin; and Morocco and Lithuania's railway networks.
It is also a leading company in the ticketing sector worldwide with projects delivered for the Metros of Madrid, Barcelona, Valencia, Athens, Lisbon, Chile or Shanghai, Mumbai Monorail and Metro, Delhi Light Rail, Malaysia's Railway, Suburban Railway of the Mexico City Metropolitan Area, the Light Rail and the Bus network of St Louis or Austin Light Rail in Texas, etc.
As for the development and implementation of integral high-tech solutions for traffic control and management , tunnel control and toll systems, the company has important references in Spain, Portugal, USA, China, Mexico, Chile, Brazil, Ireland and Montenegro, among others.
Indra is the premier Information Technology company in Spain and a leading IT multinational in Europe and Latin America. It is ranked as the second European company in its sector according to investment in R&D with nearly Euros 500 M during the last three years. In 2009 revenues reached Euros 2,513 M of which a 40% came from the international market. The company employs more than 30,000 professionals and has clients in more than 100 countries.
Mubadala Development Company (Mubadala) is a catalyst for the economic diversification of Abu Dhabi. Established and owned by the Government of Abu Dhabi, the company's strategy is built on the creation of partnerships and on long-term, capital-intensive investments that deliver strong financial returns and tangible social benefits for the Emirate of Abu Dhabi, and that contribute to the growth and diversification of its economy.
Mubadala brings together and manages a multi-billion dollar portfolio of local, regional and international investments and partners with leading global organizations to operate businesses across a wide range of industry sectors. These include aerospace, energy, healthcare, information communications and technology, infrastructure, real estate and hospitality, and services ventures. For more information about Mubadala please visit www.mubadala.ae.
Mubadala Press Office
Rashed Al Harmoodi,
Mubadala Group Communications
D: +971 2 413 1941