SAUDI ARABIA: Al Moammar Information Systems (MIS) has acquired 6.59 million units worth SAR10 (US$2.67) each totaling SAR65.9 million (US$17.57 million) in the Saudi Data Centers Fund 1. This accounts for 10% of the completed works and is in exchange for the data centers design and construction contract, according to a bourse filling.
These data centers are part of the Private Investment Fund, a Shariah compliant venture capital fund jointly managed by MIS and Saudi Fransi Capital. The fund aims to invest in and possess a total of six data centers in Saudi Arabia, as IFN reported back in February.
