Skip to content Skip to Search
Skip navigation

Mubadala acquires majority stake in Spanish IT company

Alamy via Reuters
Babel aims to expand its service portfolio and position itself as a consolidator in the fragmented IT services market

Abu Dhabu’s Mubadala Capital has agreed to acquire a controlling stake in Babel, a Madrid-based IT and digital transformation services provider.

The acquisition, which is subject to regulatory approval, further expands Mubadala’s presence in the business services sector, following its earlier purchase of Dutch safety-critical training company RelyOn Nutec this year.

The terms of the deal, subject to customary regulatory approvals, were not disclosed.

Babel’s executive team and founders will retain a minority stake.

Founded in 2003, Babel provides various solutions, including traditional IT services and technologies like AI, hyper-automation, cloud migration and cybersecurity.  

Antoun Ghanem, executive director and head of Mubadala Capital’s European private equity team, said Babel is well-positioned to capitalise on the growing demand for digital transformation, particularly in advanced and evolving technologies such as cloud-enabled solutions.

With Mubadala’s support, Babel aims to expand its service portfolio and position itself as a consolidator in the fragmented IT services market.

In August, the wholly owned alternative asset management subsidiary of Mubadala Investment Company participated in early-stage investments into Seattle cell therapy specialists Outpace Bio, New York’s Metsera and California’s Capstan Therapeutics, data from PitchBook shows.

Mubadala Capital launched in 2011 with a remit to invest primarily in private equity and public markets in North America and Europe. In 2017 the company became one of the first sovereign wealth funds to manage the money of third-party investors.

Latest articles

Mubadala set to sell Brazilian port and mining assets

Abu Dhabi’s Mubadala Capital has commenced work on selling Porto Sudeste, a private port terminal in Brazil. The port is co-owned with Singapore-based commodities trader Trafigura. Describing Porto Sudeste as a “mature” asset, Leonardo Yamamoto, executive director of Mubadala Capital Brazil, told Reuters that the company’s role is “no longer very relevant”. Mubadala Capital and […]

Adnoc Gas LNG Ahmed Alebri

Adnoc Gas considers M&A deals to meet LNG demand

Adnoc Gas is looking at international acquisitions and mergers to cope with what it predicts will be strong demand for liquefied natural gas (LNG) in the next decade, a senior executive said on Monday. “We have the balance sheet to do it, so if there is an opportunity, we will definitely consider it,” chief financial […]

AlAbraaj has several franchises in Saudi Arabia, including Mezza-W-Mashawi at Riyadh's King Khalid airport

Restaurant chain AlAbraaj plans IPO on Bahrain Bourse

AlAbraaj Restaurants Group is planning to list on Bahrain Bourse before the end of 2024. Founded in 1987, the restaurant chain manages 15 brands across 37 locations in Bahrain. It employs about 1,200 people. AlAbraaj also franchises five restaurants, three of which are in Saudi Arabia – Khobar, Jeddah and Riyadh. The company is finalising […]

DP World Australia operates four container ports and is taking on more than 40 Silk Logistics sites

DP World to acquire Australia’s Silk Logistics

DP World Australia has announced plans to acquire the freight and logistics service provider Silk Logistics Holdings, in a deal worth A$174.5 million ($114.9 million). The Australian subsidiary of Dubai’s DP World will buy Silk Logistics at a price of A$2.14 ($1.40) per share.  The transaction is subject to shareholder approval and regulatory approvals, and is […]