Ashurst advises Bespin Global on joint venture with e&
08 June 2023
08 June 2023
Bespin Global and e& have successfully completed the formation of their joint venture, which was first announced in December 2022. Closing of the transaction was subject to certain regulatory and commercial conditions which the parties had collaborated on achieving since the transaction was announced.
At closing, e& invested $60 million in Bespin Global (with an option to invest another $60 million within 18 months of closing). Each party also contributed its existing public cloud businesses and related professional and managed services from the region to the joint venture. The total investments and future commitments in the business arising from the transaction are worth over US$100 million.
The joint venture will leverage on the capabilities of both companies. e& 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 its digital transformation journey.
Bespin Global is one of the fastest growing cloud managed service providers serving over 1,700 customers from its locations in South Korea, China, Japan, Singapore, Vietnam, Indonesia, and the US. Bespin Global has been recognised as ‘Visionary’ in the Gartner MQ for the Public Cloud IT Transformation Services category, and has over 1,000 cloud experts across AWS, Microsoft Azure, Google Cloud and other cloud platforms.