Investcorp, a leading global provider and manager of alternative investment products, announced today its investment in Terminus Technologies, a leading global Artificial Intelligence (AI) CITY and smart service provider in China. Investcorp has been investing in tech-enabled businesses for 20 years and focuses on identifying companies that it considers to have established business models and are supported by long-term secular growth trends such as AI.
Investcorp believes that its strategic investment in Terminus Technologies will not only contribute to the company's growth, but it also reflects its confidence in the overall AI CITY layout and business model promoted by Terminus Technologies.
Ever since its establishment in 2015, Terminus Technologies has grown into a leading enterprise in the field of Artificial Intelligence and Internet of Things (AIoT) in China, specializing in providing diversified smart services based on AIoT technology. In April this year, Terminus Technologies' first AI CITY project was announced to commence construction in Chongqing. In July, the company was announced as the Premier Partner for Expo 2020 Dubai. Currently, Terminus Technologies is promoting the construction of a global network of the AI CITY worldwide, in which many global cities have agreed to participate in, including Dubai and Shenyang.
Hazem Ben-Gacem, Co-Chief Executive Officer of Investcorp, commented: "China and its respective enterprises have accumulated considerable experience in AIoT, resulting in the number of companies growing at a scale never heard of before. Investcorp is optimistic about the market development prospect and the growth of China's AI economy. Terminus Technologies has performed exceptionally well and secured its place among top-tier hi-tech companies in the world, which shows us the company's potential of becoming the driving force for the digital transformation worldwide."
Victor Ai, founder and CEO of Terminus Technologies, said: "We believe that the world is in the midst of transforming from the age of the Internet to the age of intelligence. This transformation will have substantial near and long-term implications for global economies, making the upcoming decade the beginning of the era of so-called 'intelligent economies'. Terminus Technologies is committed to becoming a global leading force behind the intelligent transformation of global cities. For the sake of this vision, Terminus Technologies is also actively promoting the virtually unlimited digital interconnection between the cities, boundless information exchange, and much more."
Duncan Zheng, Managing Director, Private Equity Asia, added: "We believe that the global adoption of AI and IoT technologies offers significant growth opportunities by accelerating digital transformation across industries and cities. We are excited to partner with Terminus Technologies, one of the leading enterprises in the sector and we look forward to supporting their vision to unlock the full potential of their cutting-edge technologies."
Investcorp has an established history of successfully investing in the European technology sector. Since 2001, the Investcorp Group has invested multi-billions of dollars in technology businesses in the US, Europe and Asia, across several verticals including data, security, fintech and e-payments.