20 percent stake in Google cloud partner to be acquired by Gamuda for $4.07 M
For MYR 18 million ($4.07 million), the Malaysian engineering, real estate, and infrastructure firm Gamuda Berhad has revealed its strategic plan to purchase a 20% share in Cloud Space Sdn Bhd (Cloud Space), a Google Cloud Premier Partner.
In a statement released on Tuesday, Gamuda stated that the transaction was carried out via Gamuda Technologies Sdn Bhd, a subsidiary.
With its core offerings in cloud and artificial intelligence (AI), Gamuda can access a market worth MYR 36 billion ($8.13 billion) thanks to this significant move.
This value-added strategy will help clients in the public and private sectors with current and upcoming projects.
Gamuda is in a strong position to take advantage of the rising demand for cutting-edge technological solutions by utilizing Google Cloud’s market-leading tools and developing the next generation of AI talent through the Gamuda AI Academy.
A start-up company based in Malaysia, Cloud Space develops, markets, and provides services for Google Workspace, Google Cloud, Chrome Enterprise, and Google for Education.
Additionally, the business offers cybersecurity, artificial intelligence, and software-as-a-service (SaaS) solutions.
It has one of the market’s fastest-growing customer bases and offers services to both public and private sector businesses.
Gamuda’s investment in cloud space is consistent with its larger goal of fostering local digital talent and digital innovation.
Through its Gamuda Excellence Transformation (GET) team, Gamuda has developed innovative technologies like BotUnify, their safe GenAI information marketplace, Autonomous TBM, and the Gamuda Digital Operating System.
“Gamuda’s leadership in the engineering and construction sector has always been defined by our ability to deliver complex physical infrastructure projects through our unique blend of expertise and engineering skillsets,” said John Lim Ji Xiong, Chief Digital Officer, Gamuda Berhad.
But acknowledging the changing environment, he claimed the company has placed a high priority on digital innovation, developing talent to create and deploy the digital infrastructure of the future.
“But our transformation goes beyond technology, deeply rooted in a cultural shift within our organization,
“We believe in sharing the lessons learned throughout this journey, making our experiences and insights available to others,” he added.
According to him, other companies can successfully navigate this transition if Gamuda, a company with a long history in traditional industry, can.
“Having collaborated with Cloud Space, we believe that they have the right synergies with us to drive this vision,” he said.
