e& enterprise, part of e& (formerly known as Etisalat Group), has signed a binding agreement to form a joint venture with Bespin Global, a leading public cloud managed services provider, to serve customers in the Middle East, Turkey, Africa and Pakistan (METAP).
The joint venture will be branded “Bespin Global MEA, an e& enterprise company”, focusing on offering public cloud-managed and professional services to its METAP customers.
The JV will be 65 percent owned by e& enterprise and 35 percent by Bespin Global. Both e& enterprise and Bespin Global will contribute their existing public cloud businesses and related professional as well as managed services from the region to the JV.
e& enterprise will be making a primary investment of $60 million in Bespin Global and will join its Board of Directors. In addition, e& enterprise has the option to invest another $60 million within a period of 18 months from the completion of the transaction. Both shareholders will contribute growth capital to the JV, according to the statement.
“e& enterprise always works closely with customers to maximize their digital potential by designing, delivering and operating impactful, intelligent, and secure end-to-end digital solutions. The joint venture 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.”
The joint venture will leverage the capabilities of both companies. e& enterprise will provide a strong local market presence and its broad portfolio of digital transformation solutions.
According to the statement, Bespin Global will provide deep expertise in cloud migration, cloud operations, cloud-native application development, cloud optimization, and cloud billing. The joint venture will provide a one-stop cloud solution to help enterprises in its digital transformation journey.
Mr. John Hanjoo Lee, CEO, and Co-founder of Bespin Global commented that, “Bespin Global is very excited to partner with e& enterprise in the METAP markets as our enterprise customers accelerate their digital transformation. The joint venture between Bespin Global and e& enterprise will leverage capabilities that will help build the future of cloud business.”
“In addition, we welcome e& as an investor in Bespin Global and appreciate their confidence in our strategy and operations. We look forward to accelerating our growth plan and profitably expanding our operations globally,” Mr. Hanjoo Lee added.