Bespin Global gets infusion from UAE's e& Enterprise

Bespin Global, a Seoul-based cloud management and consulting start-up, raised 140 billion won ($107 million) from e& Enterprise, an IT service company headquartered in the UAE. The size of e& Enterprise's stake was not disclosed.

Bespin Global, a Seoul-based cloud management and consulting start-up, raised 140 billion won ($107 million) from e& Enterprise, an IT service company headquartered in the UAE. The size of e& Enterprise's stake was not disclosed.

The money will be used to form a joint venture catering to clients in the Middle East, North Africa and Pakistan, according to a statement released by Bespin Global. That venture will be 65 percent owned by e& Enterprise and 35 percent by Bespin Global.

Bespin specializes in managing cloud computing systems while e& Enterprise, formerly known as Etisalat Group, is an affiliate of e&, one of the largest telecommunications providers in the UAE.

“By combining forces with e& Enterprise in the METAP region [the Middle East, Turkey, Africa and Pakistan], we are bringing much needed cloud managed services to the region where cloud adoption is about to explode,” said Lee Han-joo, CEO and co-founder of Bespin. “e& Enterprise has deep customer relationships and the trust of its customers and Bespin Global has the deep cloud management capabilities. Together, we can accelerate cloud adoption in the region,” Lee said.

"The joint venture with Bespin Global and the investment in the holding company," said Salvador Anglada, CEO of e& Enterprise, "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."

BY PARK EUN-JEE [park.eunjee@joongang.co.kr]