Malaysian engineering, property and infrastructure company Gamuda Berhad has announced its strategic plan to acquire a 20 percent stake in Cloud Space Sdn Bhd (Cloud Space), a Google Cloud Premier Partner, for MYR 18 million ($4.07 million).

Gamuda said in a statement on Tuesday that the deal was undertaken through its subsidiary, Gamuda Technologies Sdn Bhd.

This key move has a potential of MYR 36 billion ($8.13 billion) market that Gamuda can tap into with its technology services, with core offerings in cloud and artificial intelligence (AI) capabilities.

This value-added approach will benefit existing and future projects, serving clients across the private and public sectors.

By leveraging Google Cloud’s industry-leading tools and nurturing the next generation of AI talent through the Gamuda AI Academy, Gamuda is well-positioned to capitalize on the growing demand for advanced technological solutions.

Cloud Space is a Malaysian start-up that builds, sells and services solutions for Google Cloud, Google Workspace, Chrome Enterprise, and Google for Education.

The company also provides software-as-a-service (SaaS), AI and cybersecurity-related solutions.

It provides services for companies in the public and private sectors and has one of the fastest-growing customer bases in the market.

Gamuda’s investment in Cloud Space aligns with its broader commitment to digital innovation and developing local digital talent.

Gamuda has innovated cutting-edge technologies through its Gamuda Excellence Transformation (GET) team, such as the Gamuda Digital Operating System, Autonomous TBM and BotUnify – their secure GenAI marketplace of information.

“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

However, recognizing the evolving landscape, he said the firm has strongly emphasized digital innovation, cultivating talent to design and implement tomorrow’s digital infrastructure.

“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.

He opined that if Gamuda, a company with a long history in traditional industry, can successfully navigate this transformation, he believes others can, too.

“Having collaborated with Cloud Space, we believe that they have the right synergies with us to drive this vision,” he said.

Eric Tan Chin Siong, Managing Director, Cloud Space, said Cloud Space is a leading enterprise cloud service provider offering the highest quality of service delivery and value added solutions.

“As a pioneer in the Google Cloud ecosystem since 2017, we bring a network of established key technology partners and a robust client orderbook to the partnership with Gamuda,

“Our team of passionate and experienced experts have strong technical capabilities and commitment to help organizations drive their digital transformation and business goals,” he added.

Founded in 1976, Gamuda has grown into a regional engineering, property, and infrastructure firm.

The firm has a presence across Malaysia, Taiwan, Singapore, Australia, the United Kingdom, India, Vietnam, Bahrain, and Qatar.

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