Indra signs an agreement with Mubadala, the Abu Dhabi-based investment and development company
The agreement was signed coinciding with a State visit to the Middle East by the King of Spain and Spain?s Foreign and Industry ministers
The agreement includes an option for the companies to develop technology projects together and to form joint ventures
Indra signed a memorandum of understanding (MOU) with Mubadala Development Company, the investment vehicle of the Government of Abu Dhabi (United Arab Emirates), for the purpose of developing technologies and projects together and, when appropriate, joint ventures.
The agreement was signed coinciding with a mission to the Middle East headed by King of Spain Juan Carlos I. The king was accompanied by Foreign Minister Miguel Ángel Moratinos, Minister for Industry, Trade and Commerce Miguel Sebastián and a delegation of business group CEOE (Confederation of Employers and Industries of Spain) and the Confederation of Chambers of Commerce.
Mubadala’s Chief Operating Officer, Waleed Al Mokarrab Al Muhairi, and Indra General Manager for the International Division, Cristóbal Morales signed the agreement in the presence of Spanish Industry Minister Miguel Sebastián and United Arab Emirates Economy Minister Sultan Bin Saeed Al Mansouri. The event was held at the Spanish Business Forum, which took place in Abu Dhabi.
The agreement is an important achievement for Indra, which, after doing business in the United Arab Emirates for the past year, has now strengthened its position here in fields related to aerospace and technology.
About Indra
Indra is Spain’s No. 1 IT company and one of the main players in Europe and Latin America. It is the No. 2 European company in its sector by market capitalization and is one of the three Spanish companies which invests the most in R+D. Revenues in 2007 totalled €2.17bn, with a third coming from the international market. Indra employs over 24,000 people and has clients in more than 90 countries.
About Mubadala
Mubadala Development Company (Mubadala) is a leading business development and investment company based in Abu Dhabi. At the core of its strategy, Mubadala makes long-term, capital intensive investments to deliver strong financial returns and economic diversification. Its mandate is to transform the Emirate from a single-sector economy, driven predominantly by oil and gas, into a multi-sector global economy that comprises a range of thriving industries.
Mubadala is rigorously analytical in its selection of investments and partners, whether it is investing in established businesses such as Carlyle Group and Ferrari or creating new ones by partnering with leading international organizations like Cleveland Clinic. An investment vehicle of the Abu Dhabi Government, its focus is on developing the key industry sectors of healthcare, technology, aerospace, energy, and real estate, and building links between them to ensure that the economy is fully integrated and sustainable.
Through these carefully selected investments and with the expertise and experience of best-in-class partners, Mubadala is setting the highest standards for business excellence in every sector. By establishing these benchmarks, Mubadala aims to cultivate new employment opportunities and improved standards of living; an attractive business environment for partners and investors; and continued prosperity for Abu Dhabi and its people.