Abu Dhabi – Mubasher: e& enterprise, part of e&, which is formerly known as Etisalat Group, inked a binding agreement to form a joint venture (JV) with Bespin Global, a cloud management firm, according to a press release.
The new entity will be branded “Bespin Global MEA, an e& enterprise company” and will focus on providing public cloud-managed and professional solutions to serve customers across the Middle East, Turkey, Africa, and Pakistan (METAP).
Under the deal, e& enterprise will hold a 65% stake in the JV, while the remaining 35% equity will be owned by Bespin Global. The two parties will contribute their existing public cloud businesses and related professional and managed services from the region to the JV.
e& enterprise will initially pump $60 million into Bespin Global to join its board of directors while having the option to invest an additional $60 million within 18 months of concluding the transaction.
The JV will leverage e& enterprise's powerful local market presence and its wide portfolio of digital transformation solutions. Meanwhile, Bespin Global will offer expertise in cloud migration, cloud operations, cloud-native application development, cloud optimisation, and cloud billing.
As a part of the agreement, e& enterprise will also invest in Bespin Global’s holding company. The total investment and future commitments announced are worth over $100 million.
Salvador Anglada, CEO of e& enterprise, said: "The JV with Bespin Global and the investment in the holding company are part of our ongoing efforts to extend our cloud offerings and establish our commitment as a trusted partner to governments and enterprises in the UAE.”
Miguel Villalonga, CEO of e& enterprise Cloud, mentioned: "The partnership with Bespin Global will allow e& enterprise to offer the right mix of cloud services based on customer needs, including cloud consulting, migration, and managed services.”
Villalonga added: "This will open up a plethora of opportunities in the public cloud space, especially as its deployment plays an integral role in many public and private sector projects today."
Mouteih Chaghlil, CEO of Bespin Global MEA, noted: “This JV brings together the comprehensive public cloud technologies and services of both parties to expand our geographic footprints and accelerate digital transformation and cloud adoption across the METAP region.”
Last October, e& enterprise fully acquired Smartworld to anchor its position in e-business and help tech organisations to broaden their digital capabilities.
