The announcement of the acquisition will strengthen ADNOC’s leading global position as a national oil and gas company. It combines AIQ's advanced energy solutions with PreSite's expertise in big data analytics, generative AI and supercomputing to accelerate AI innovation and develop leading-edge solutions for energy and industry.
The acquisition of a company constitutesAIQ“An important and pivotal expansion of BriSight’s business in the energy and artificial intelligence sector, which opens new horizons and markets for both.”Presite“And AIQ, and the combination of AIQ's innovative energy AI solutions with the massive cross-sector analytics, product development, and international market reach that PreSite provides will open tremendous growth potential for both companies.”
AIQ has already developed more than 20 artificial intelligence applications and has filed 16 patents, and its main artificial intelligence tools actually contribute to raising the efficiency of operations at ADNOC companies, as they work to define, monitor and help reduce emissions and improve safety procedures.
The company's AI solutions, trained on vast amounts of recent and historical data, are being marketed and will be the foundation for AIQ's growth.
Mansour Al Mansouri, Chairman of the Board of Directors of BriSight, said: “This announcement brings together two of the leading national companies in the technology sector in the UAE to rise to higher levels in the world. We are pleased that His Excellency Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, will take over as Managing Director and CEO.” ADNOC and its group of companies lead the AIQ Board of Directors in his capacity as its Chairman, bringing with him a significant wealth of experience and wise leadership in the energy and technology sectors. We are also pleased to welcome the talented AIQ team to the Brisight family.”
He added: “With the enormous power you have ADNOC Joining existing shareholders such as IHC and G42, we believe we will enhance AI solutions for the energy sector, and we are excited to demonstrate our potential to achieve meaningful societal change.”
For his part, Thomas Pramutidham, CEO of Presight, said: “Last year was a special year for Presight, as we listed our shares on the Abu Dhabi Securities Market in March 2023 and achieved total revenues of 1.8 billion dirhams.. That was just the beginning, and one year later Just from our listing, we have reached another significant milestone through the acquisition of AIQ, and by acquiring a majority stake in it we are adding another high-profile segment to our portfolio of solutions and expertise, while bringing our generative capabilities in AI-powered big data analysis to AIQ. ) and potential customers in the global energy industry, we look forward to an exciting future for both companies.”
Pramotdam added: “Our acquisition of (AIQ) will reinforce PreSight’s commitment to creating safer, healthier, happier and more sustainable societies by solving problems with artificial intelligence to enable lifelong human progress.”
As part of the deal, ADNOC will retain a 49 percent stake in AIQ, and will also acquire a significant minority stake in Brisight, underscoring Brisight's success and confidence in its vision.
