E& Enterprise’s partner in the project is South Korean company Bespin Global, already a cloud managed service provider.
Salvador Anglada (pictured), CEO of E& Enterprise, which owns 65% of the joint venture, said: “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 new business will operate in the Middle East, Turkey, Africa and Pakistan, a region E& Enterprise is calling “Metap”.
As part of the deal E& will make a minority investment of US$60 million in Bespin Global’s holding company. Bespin Global will own 35% of the joint venture. The joint venture will be branded Bespin Global MEA, an e& enterprise company.
John Hanjoo Lee, CEO and co-founder of Bespin Global, said: “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.”
E& Enterprise has the option to invest another $60 million within a period of 18 months from completion of the transaction, the companies said. “Both shareholders will contribute growth capital to the JV.”
Miguel Villalonga, CEO of E& Enterprise Cloud, said the partnership will
"The partnership “offer the right mix of cloud services based on customer needs, including cloud consulting, migration and managed services”.
He 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.”
