Adani Acquires AI-based Startup to Boost its AI & Data Centre Capabilities


The Adani Group, led by the global business tycoon, Gautam Adani, has recently completed the acquisition of AI-based startup Parserlabs. This acquisition follows Sirius Digitech’s initial purchase of 77.5 % stakes in Parserlabs India in July 2024. With this acquisition, the Adani Group will be able to further embrace enhanced technologies in its operations. The group will also be able to enhance its hold over the data centre and cloud services market. Its business profitability is also going to enhance to a considerable extent.

The Adani Group Completes The Acquisition Of AI-Based Parserlabs:

Adani Enterprises Limited has recently announced that its joint venture company Sirius Digitech has recently acquired the remaining 22.5% stakes in Parserlabs India Private Limited. This makes the company a wholly-owned subsidiary of the Adani Group. This transaction was completed on 19th March. It was valued at INR 45 crore approximately. The shares were purchased at INR 20,000 per share. The recent acquisition of stakes was followed by Sirius Digitech’s initial purchase of 77.5 % stakes in July 2024.

Sirius Digitech is a joint venture of Adani Global Limited, Mauritius, which is again a wholly-owned subsidiary of Adani Enterprises, the flagship company of the Adani Group. 

Why Acquire Parserlabs?

Parserlabs was incorporated in March 2019. The company specialises in sovereign AI and cloud technology. It operates through its fully-owned subsidiary Coredge.io India Private Limited. The company offers a diverse range of products for government departments, cloud providers, telecom service providers, and more. The Adani Group mentioned that the recent acquisition of Parserlabs will allow it to increase its hold in data centres and cloud services. It will also position Gautam Adani's business as one of the leading tech service providers in the world.

Parserlabs has already shown extraordinary growth over the past few years. Its turnover has increased from INR 12.09 crore in FY22 to INR 45.63 crore in FY23-24. The recent transaction did not require any kind of regulatory or government approval. It was not classified as a related party transaction. By bringing Parserlabs under its name, the Adani group will find it easier to enhance its hold over the technological sector. It will also be able to come up with new and advanced solutions for its business.

Adani Group's Hold Over The Data Centre Segment:

As you know, the Adani Group already has a strong hold over the data centres business. It operates some of the largest data centres in and around the country. The business group is also currently working towards further extending its hold over this particular business sector. With that in mind, Gautam Adani has taken a lot of steps which are directly aimed at ensuring that the firm's data centre business experiences a boost.

Earlier, the Adani Group had taken up the decision to expand its data centre business by making an investment worth 5 million USD. The group operates in the data centre sector through its joint venture AdaniConneX. The company also plans to develop 1 GW of data centre capacity by 2030. With that, it currently aims to accelerate growth in the data centre sector. The company also has elaborate plans to integrate various advanced forms of technology in its various businesses. This will further allow it to boost its presence in the data centre sector.

India's Current Data Centre And Cloud Service Market:

India's current data centre and cloud services industry are poised for significant growth. There are expectations to double the size of the country's data centre industry over the next few years. As per a recent report, India's data centre capacities are expected to increase from 0.9 GW in 2023 to 2 GW by 2026. This is mainly driven by a data localisation regulation. India currently generates 20% of the world's data which accounts for only 3% of the global data centre capacity. This creates a large gap that companies like the Adani Group are trying to fill with various acquisitions in the sector. The growth is being driven by increasing demand for digital infrastructure. 

Conclusion:

In this era of AI advancements and regulatory requirements surrounding data storage, companies from all across the world are trying to ensure that the growing demands for advanced forms of technology are well-addressed. With Adani Group's entry into the particular sector, the growing demands for AI-based technology will be met. We will also be able to observe a technological boom in India in the upcoming years.


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