Sirius Digitech, a joint venture between Adani Global and International Holding Company has acquired a cloud platform company Coredge.io to expand its offerings for data centre operations through cloud and artificial intelligence solutions.
Coredgeoffers secure and compliant cloud services for AI applications safeguarding data sovereignty and has clients in Japan, Singapore, and India.
Sirius Digitech has bought a 77.5 per cent in the company at ₹20,000 a share. The acquisition will enable it to provide cloud services to empower organisations in leveraging sovereign cloud innovations while retaining sensitive data within their boundaries, a release said.
While the total deal value was not disclosed, sources said it was around ₹46 crore. “As nations increasingly prioritise data security, it is more important than ever that organisations have the option to retain their data within national borders rather than relying solely on the public cloud,” said Jeet Adani, Director, Adani group.
Key benefit
He pointed out that a key benefit in this acquisition was that it put AI capabilities directly in the hands of organisations that required specialised sovereign cloud services for AI training and inferencing.
Coredge has an innovative approach to sovereign cloud technology, offering highly secure, scalable and designed-for-AI cloud solutions tailored for government and enterprise clients. It aims to build the complete solution stack for sovereign data centres that will include everything from bare metal servers to services, like Infrastructure as a Service (IaaS) and Platform as a Service (PaaS) built on open-source technologies, to enable Sirius Digitech to provide machine learning as a Service (MLaaS) as applications get built on its infrastructure.