Malaysia’s Gamuda Technologies has announced its plan to acquire a 20% equity interest in Cloud Space for RM18m ($4.06m).

This strategic acquisition aims to bolster Gamuda’s digital ambitions in cloud and AI technologies, tapping into a potential RM36bn market with its technology services.

Cloud Space specialises in cloud computing, AI, data automation, and cybersecurity solutions.

It is a Google Cloud Premier Partner, offering solutions and services for Google Cloud, Google Workspace, Chrome Enterprise, and Google for Education, to both government and private sectors in Malaysia.

This startup also offers Software-as-a-Service (SaaS), artificial intelligence (AI) and cybersecurity-related solutions. 

Gamuda stated that Cloud Space’s expertise in cloud engineering complements its in-house technology and digital capabilities, and this synergy is crucial for delivering large-scale complex engineering and construction projects, reported Star Media Group.

“In combination, Gamuda and Cloud Space will have strong technical and financial resource to jointly access the emerging and fast-growing cloud adoption opportunities in Malaysia,” Gamuda stated.

The group also highlighted that this investment aligns with its goal of supporting and fostering home-grown talent in the cloud and AI sectors.

This move continues the momentum from the launch of Gamuda AI Academy in partnership with Google in October 2024.

Set up in 1976, Gamuda is an engineering, property, and infrastructure group based in Malaysia.

It has a presence across Malaysia, and also the UK, India, Taiwan, Singapore and Australia, plus Vietnam, Bahrain, and Qatar.

Meanwhile, in a separate development, Gamuda has partnered with DNeX to establish a joint venture aimed at delivering innovative air-gapped Google Distributed Cloud Services to Malaysia, serving both the public and private sectors.