G42 and Rafael to form Presight.AI.

G42, a technology company based in Abu Dhabi, and Rafael Advanced Defense, an Israeli defense technology company, are set to form Presight.AI, a provider of AI and Big Data technologies and solutions to multiple sectors. Financial terms were not disclosed. “First and foremost, this cooperation signifies another leap in the relationship between our countries, and it makes us all very excited to have such great partners in the Middle East, working together to make this region a better place. The significant resources Rafael has invested over the years in AI and Big Data technologies, both for defense and commercial applications, have catapulted us to become a global authority in these fields. Through Presight.AI, we will unravel the immense potential embodied by the two companies, by synergizing with G42, to take our joint expertise and complementary capabilities to the next level. Rafael will continue to broaden its global cooperation, as we strive to expand into further fields, and establish similar partnerships worldwide," Yoav Har-Even, Rafael President and CEO.