Sirius Digitech Limited, a joint venture between the Adani Group and Sirius International Holding (a subsidiary of International Holding Company), has finalized binding agreements for the acquisition of Coredge.io Private Limited. Coredge.io, founded in 2020, specializes in sovereign AI and cloud platform solutions, catering to the growing demand for secure and compliant cloud services tailored for AI applications.
Coredge.io has rapidly expanded its footprint by providing highly secure and scalable cloud solutions designed specifically for government and enterprise clients. With a focus on data sovereignty and compliance, Coredge.io has positioned itself as a leader in the sovereign cloud technology sector, capitalizing on a global market estimated at trillions of dollars.
The acquisition will enable Sirius Digitech to enhance its service offerings, providing organizations with advanced sovereign cloud innovations that ensure sensitive data remains within national borders. This move aligns with increasing global demand for secure computation and sovereign data management, driven by the rise of artificial intelligence.
“As nations increasingly prioritize data security, it is more important than ever that organizations have the option to retain their data within national borders rather than relying solely on the public cloud. 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,” said Jeet Adani, Director of Adani Group. “An additional benefit of this acquisition is our ability to put AI capabilities directly in the hands of organizations that require specialized sovereign cloud services for AI training and inferencing.”
“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,” said Ajay Bhatia, CEO of Sirius International Holding. “This step underscores our commitment to offering a portfolio of secure, trusted and localised cloud AI technologies to our customers and partners.”
Arif Khan, CEO of Coredge.io, expressed excitement about the partnership, saying, “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.”
Coredge aims to develop a comprehensive solution stack for sovereign data centers, encompassing everything from bare metal servers to services like Infrastructure as a Service (IaaS) and Platform as a Service (PaaS) built on open-source technologies. This will enable Sirius Digitech to offer Machine Learning as a Service (MLaaS) as applications are developed on its infrastructure.
According to regulatory filings, the Adani Group will acquire a significant 77.5% stake in Parserlabs India, the parent company of Coredge.io, at a cost of ₹20,000 per equity share with a face value of ₹1 each.
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