MANAMA: Investcorp, a Bahrain-based alternative investment manager, has invested an undisclosed amount in Terminus Technologies, a Chinese artificial intelligence (AI) city and smart service provider.
The firm believes the strategic investment in Terminus Technologies will not only contribute to its growth, but also reflects its confidence in the AI city layout and business model.
Since its establishment in 2015, Terminus Technologies has grown into a leader in AI and internet of things in China, specialising in diversified smart services based on the technology.
Earlier this year its first full AI city began construction in Chongqing, China and in July, the company was announced as a partner for Expo 2020 Dubai.
Currently, Terminus Technologies is promoting the construction of a global network of the AI city worldwide, in which many global cities have agreed to participate, including Dubai and Shenyang.
Investcorp has been investing in tech-enabled businesses for 20 years and focuses on identifying companies that it considers to have established business models and are supported by long-term secular growth trends such as AI.
Potential
Investcorp co-chief executive Hazem Ben-Gacem said, “Terminus Technologies has performed exceptionally well and secured its place among top-tier hi-tech companies in the world, which shows us the company’s potential of becoming the driving force for the digital transformation worldwide.”
Terminus Technologies founder and CEO Victor Ai said, “We believe that the world is in the midst of transforming from the age of the Internet to the age of intelligence. This transformation will have substantial near and long-term implications for global economies, making the upcoming decade the beginning of the era of so-called ‘intelligent economies.”
Since 2001, Investcorp has invested multi-billions of dollars in technology businesses in the US, Europe and Asia, across several verticals including data, security, fintech and e-payments.
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