e& enterprise has signed a binding agreement to form a joint venture with Bespin Global. The joint venture will be branded “Bespin Global MEA, an e& enterprise company”, focusing on offering public cloud-managed and professional services to serve customers in the Middle East, Turkey, Africa and Pakistan (METAP).
The JV will be 65 per cent owned by e& enterprise and 35 per cent by Bespin Global. Both e& enterprise and Bespin Global will contribute their existing public cloud businesses and related professional and managed services from the region to the JV. e& enterprise will be making a primary investment of $60 million in Bespin Global and join its Board of Directors. In addition, e& enterprise has the option to invest another $60 million within a period of 18 months from completion of the transaction. Both shareholders will contribute growth capital to the JV.
The joint venture will leverage on the capabilities of both companies. e& enterprise will provide strong local market presence and its broad portfolio of digital transformation solutions. Bespin Global will provide deep expertise in cloud migration, cloud operations, cloud-native application development, cloud optimisation and cloud billing. The joint venture will provide a one stop cloud solution to help enterprises in their digital transformation journey.
As a part of the agreement, e& enterprise will also invest in Bespin Global’s holding company. The total investment and future commitments announced today are worth over $100 million.
Salvador Anglada, CEO of e& enterprise, said: “e& enterprise always works closely with customers to maximise 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.”
John Hanjoo Lee, CEO and Co-founder of Bespin Global, said: “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.”
