Doha, October 02 (QNA) - Qatar Investment Authority (QIA) announced Wednesday its intention to combine the telecommunications businesses of Qatar National Broadband Network (QNBN) and Gulf Bridge International (GBI).

The integration of QNBN and GBI brings together two highly complementary businesses to create a carrier-neutral digital and AI infrastructure leader, further connecting Qatar to the world.

HE CEO of QIA Mansoor bin Ebrahim Al Mahmoud commented: "This decision reinforces QIAs commitment to Qatar's Third National Development Strategy. By expanding the digital infrastructure ecosystem, we will attract further foreign direct investment, and serve as a catalyst for economic diversification. We aim to position Qatar as a leading digital hub both regionally and globally and connect Qatar to the world." HE Chairman of QNBN and GBI Eng. Essa bin Hilal Al Kuwari added: "Together, QNBN and GBI have a unique opportunity to accelerate delivery of critical digital services in Qatar.

With highly complementary assets and operations, our combined businesses will be better placed to capture the rapidly growing international connectivity opportunity to support our future growth ambitions. Our long-term vision is to create a digital infrastructure champion, unlocking new opportunities." QNBN is the leading national passive fiber service provider in Qatar with over 95% nationwide coverage. As a cornerstone of Qatar's digitalization agenda, the company offers next-generation fiber-optic cable to public and private customers across government and enterprise.

GBI is a leading provider of high-capacity, low-latency, and resilient connectivity solutions across the Middle East, Europe, and Asia, providing services to blue chip, international carriers and hyperscalers to enhance Qatar's international connectivity and integration into the global digital economy.

Combining GBIs international submarine and terrestrial cables and QNBNs unparalleled domestic fiber network will form a world-class connectivity platform for data traffic to and through Qatar. This platform will attract global hyperscalers and cutting-edge AI innovators from Europe and Asia to Qatar, offering a seamless gateway to interconnect within the Middle East region. The combined company will focus on maximizing opportunities within the international data traffic market.

By leveraging its combined resources and expertise, the company aims to position itself as a key player in this rapidly growing sector, driving innovation and expanding its presence globally to meet increasing demand for data connectivity across borders.

The combination will strengthen Qatar's ICT sector by accelerating the development of human capital in critical and niche ICT domains and new digital industries. This will drive new investment and growth opportunities for all industry players in Qatar's telecommunications market.

The transaction is expected to close in Q4 2024, subject to regulatory approvals and other statutory procedures. As QNBN and GBI progress with the integration of the two entities, they remain dedicated to providing a smooth transition for their key clients, maintaining a strong emphasis on service quality, customer satisfaction, and data security. (QNA)