Germany-based Avira Now Controlled by MbZ Investcorp Investment
Data has become the most valuable asset and its breach; the highest form of catastrophe and crime. Therefore, the importance of cybersecurity has increased significantly in the recent times. But not all who offer cybersecurity mean to protect your data. Some cybersecurity firms disguise to provide security only to violate it further. One of the classic examples in today’s time is DarkMatter, a self-proclaimed, Emirati cybersecurity firm that has been exposed to have led several high profile cyber breaches, violating human rights and international law. The United Arab Emirates, under its investment arm — Investcorp — bought nearly 100% stakes in AVIRA, a renowned name in the cybersecurity industry. Is this the end of cybersecurity or the beginning UAE’s influence over Germany via soft power?
Mubadala Investcorp Investment: Avira Cybersecurity
The government of Gulf nations are known for conducting state surveillance on mass levels, by spying on their people via mobile applications, hacking, espionage techniques, phishing, etc.
Selling cybersecurity has been one of the biggest scams led by UAE; known for leading the most sophisticated hacking operations in the Middle East. Mubadala Investment Company, led by its chairman and Abu Dhabi crown prince, Mohammed bin Zayed Al Nahyan purchased almost 100% shares in Avira.
Although, Investcorp has several members comprising its board of directors that belong to the royal families of Saudi Arabia, Kuwait, Bahrain, Oman, UAE, etc. However, the majority of stakes in the investment group are held by Mubadala, the Abu Dhabi-based sovereign wealth fund. The MbZ Investcorp investment deal was finalized in April 2020 with Avira’s founder, Tjark Auerbach.
The cybersecurity firm has dozens of subsidiaries in Germany and as many around the world. It sold about 100% stakes to the Investcorp Group of Manama (Bahrain) at the price of 180 million dollars. However, this isn’t the first cybersecurity investment made by the investment group, yet the most crucial one till date. The MbZ Investcorp investment group ownership is majorly hidden through the medium of several of its firms situated in tax havens, mostly Cayman Islands. Therefore, the turnover is almost impossible to calculate.
On the surface level, the Mubadala Investcorp investment group is a financial instrument. However, Middle East nations use it for building and transforming its military and political stronghold globally. As far as the case of UAE is concerned, under MbZ Investcorp investment brought together the country’s defense, aeronautical, technology, industries under the sponsorship of Mubadala Investment Group.
The Fear of Democracy and Greed of Influence
The primary reason of bringing investment sector on the forefront was the Arab Spring uprising, which started with the agenda of bringing democracy in the Middle East, most feared by autocratic nations like UAE. One of the examples of this is the investment made by UAE’s EDGE Group in French public investment fund, LAC1. Not only did the UAE strengthen its relations with the French government, but also gained influence by aiding an investment fund that held the national debt of the French government.
The greed of gaining influence in the West over its regional political rivals has led the UAE to commit several counts of human rights violations including the purchase of NSA’s most sophisticated hacking system for DarkMatter. Political rivals, leaders of other nations, dissidents, activists and journalists were spied upon via interception using the NSA tool. The project was led by one of Sheikh Mohammed bin Zayed’s top advisors’ and the CEO of EDGE Group Faisal Al-Bannai, the man who brought the defense investment group’s turnover to $5 billion in two years.
MbZ Investcorp investment raises many red flags with regards to the misuse of technology. As per European and American security experts, the Mubadala along with the EDGE Group, DarkMatter and CAGN Global has arranged for the arrest of more than 350 opponents of the UAE government. In fact, the DarkMatter was also allegedly used in the brutal case of Jamal Khashoggi’s assassination; a Saudi journalist and critic who was murdered in a Saudi consulate in Turkey.
This is not the first attempt made by Mohammed bin Zayed Al-Nahyan to grow its influence in Germany. MbZ heads an association called the ECSSR or the Emirates Center for Strategic Studies and Research which works parallel to a number of high profile advisers from around the world to offer the best political, military, and diplomatic advice. The board includes German Chancellor Angela Merkel and is closely tied to Tawazun, companies linked to EDGE Group, and Mubadala. In 2017, the UAE used ECSSR bank account to bribe $20 million for an arms contract, under the cover of an environmental research contribution.
