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Leading Emirates telecommunications group e& (formerly known as Etisalat Group) has announced that one of its main divisions – e& enterprise – has signed a binding agreement to form a joint venture with Bespin Global, a leading US-based public cloud hosting provider.
The brand name of the joint venture will be “Bespin Global MEA, an e-commerce company”, and e& Enterprise will own 65 percent and Bespin Global will own 35 percent. Both e& enterprise and Bespin Global will contribute to the joint venture their existing public cloud businesses, as well as related professional and managed services in the region.
Both shareholders will provide growth capital to the joint venture, the UAE telecoms giant said. e& enterprise will make an initial $60 million investment in Bespin Global and join its board of directors.
In addition, e&enterprise has the option to invest an additional $60 million within 18 months of closing.
According to e&, the joint venture will leverage the capabilities of both companies. It will focus on providing public cloud hosting and professional services to clients in the Middle East, Turkey, Africa and Pakistan.
Bespin Global will provide deep expertise in cloud migration, cloud operations, cloud-native application development, cloud optimization and cloud billing.
Bespin Global is one of the fastest growing cloud hosting service providers, serving more than 1,700 customers from its branches in Korea, China, Japan, Singapore, Vietnam, Indonesia and the United States.
The total investment and future commitments announced today are worth more than $100 million.
“We have been working closely with our clients to maximize our digital potential by designing, delivering and operating end-to-end digital solutions that are impactful, intelligent and secure,” said Salvador Anglada, CEO of e&enterprise.
“The joint venture with Bespin Global and the investment in the holding company are part of our ongoing efforts to expand our cloud offering and establish our commitment as a trusted partner to the UAE government and businesses,” he noted.
Bespin Global CEO and co-founder John Hanjoo Lee said its joint venture with e&enterprise will leverage capabilities that will help build the future of cloud business.
“Additionally, we welcome e& as an investor in Bespin Global and thank them for their confidence in our strategy and operations. We look forward to accelerating our growth plans and expanding our business profitably globally,” he added.
Miguel Villalonga, CEO of e&enterprise Cloud, said: “The partnership with Bespin Global will allow e&enterprise to offer the right mix of cloud services according to client needs, including cloud consulting, migration and managed services.”
“This will open up substantial opportunities in the public cloud space, especially since its deployment plays an integral role in many public and private sector projects today. With electronics and enterprise impacting across multiple sectors, especially government and Large enterprises, and their demand sets to accelerate, must leverage best-in-class capabilities to capitalize on growth opportunities,” said Villalonga.
Mouteih Chaghlil, CEO of Bespin Global MEA, said: “We are committed to making our company not only the best cloud partner for our customers, but also the best place to work for cloud experts. With the support of e&enterprise, we will create a Delivering an efficient customer experience and advancing our business goals through the cloud.”
“Growth in cloud computing will accelerate as technologies such as IoT, edge computing, 5G, and real-time analytics powered by artificial intelligence and machine learning (ML) become more pervasive. Through this joint venture, e-commerce and enterprises can take advantage of Bespin Global’s MEA’s ability to serve multiple parts of the cloud value chain,” he added.trade arab news agency
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