Qatar Investment Authority announces new merger to enhance digital infrastructure

Posted by Admin October 2, 2024 World

The Qatar National Broadband Network (QNBN) and Gulf Bridge International (GBI) will be merged to form a new platform to position Qatar as a regional hub for data traffic.

The Qatar Investment Authority (QIA) has announced the merger of two telecommunications companies, a move aimed at strengthening Qatar’s digital infrastructure ecosystem.

The initiative, revealed on Wednesday, will integrate the Qatar National Broadband Network (QNBN) and Gulf Bridge International (GBI) to further the country’s connectivity to the world as well as strengthen high-speed connectivity inside Qatar.

“The platform will attract global hyperscalers and cutting-edge AI innovators from Europe and Asia to Qatar, offering a seamless gateway to interconnect within the Middle East region,” QIA said in a statement.

Market leader in Qatar for fiber optic solutions, QNBN is responsible for 95 percent of the total coverage across the country and serves both private and government entities.

The partnership with GBI, which boasts extensive international submarine and terrestrial cable networks, will create a new company which will be a “carrier-neutral digital and AI infrastructure leader”, according to the QIA.

In line with Qatar’s Third National Development Strategy, the new platform aims to enhance data traffic connectivity to and through Qatar.

Such world-class infrastructure will help in Qatar’s efforts to diversify its economy by attracting direct investments from international companies, the CEO of QIA Mansoor Ebrahim Al-Mahmoud said.

“By expanding the digital infrastructure ecosystem, we will attract further foreign direct investment, and catalyse economic diversification.”

All transactions related to the merger are expected to be completed by the end of 2024.

Essa Bin Hilal Al-Kuwari, the chairman of QNBN and GBI, called the partnership a unique opportunity to capture rapidly growing international data traffic market.

“With highly complementary assets and operations, our combined businesses will… support our future growth ambitions.

“Our long-term vision is to create a digital infrastructure champion, unlocking new opportunities.”