Abu Dhabi-based Mubadala signed a new MoU with Indra, the premier IT company in Spain and a leading multinational in Europe, on transport and traffic technology systems.
A leading investment and development company, Mubadala said the agreement is an extension of an existing relationship which began in 2008 when a MoU on aerospace and security technology collaboration was signed.
Since then, the two companies delivered several projects in aerospace, automated maintenance systems and defense electronics, it added.
The new MoU strengthens relationship with Mubadala and builds on previous initiatives in the aerospace and security sectors, said a statement from Indra.
Jassem Al Zaabi, Executive Director, Mubadala Information & Communications Technology (ICT), said, 'We’ve been working with Indra for some time now, collaborating on important projects across a wide range of technology areas.'
'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,' he noted.
Alfonso Fernández Rangel, ME Business 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,' he added.
The deal bolsters Indra’s position in the region as a top technology services business. 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.'