Intel set to unveil first Gulf investment

GULF INVESTMENT: Intel will hold a press conference later with Sphere Networks. (Getty Images)

The venture capital arm of US computer chip maker Intel is set to announce its first investment in the Gulf on Wednesday, UAE daily The National reported.

Although the company Intel Capital plans to invest in has not been named, at a press conference later Intel executives will take the stage alongside the founder and CEO of Dubai-based networking company Sphere Networks, the newspaper said.

Sphere was set up in 2005 in Dubai Silicon Oasis, which also has a 30 percent stake in the company.

Intel Capital has invested around $7.5 billion in technology businesses across the world since it was established in 1991, but during that time has only made on Middle East investment, partnering with Egyptian mobile operator Orascom Telecom.

Print | Email | Discuss this article |

READERS' COMMENTS

Click here to post a comment

Add your Comment All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic.
Name *
Remember me on this computer
Email *	(Your email address will not be published)
City
Country
Subject *
Comment *
Notify me of further comments
Security Code *
Please click post only once - your comment will not be published immediately.

MORE FROM ARABIANBUSINESS.COM