SINGAPORE – Temasek-owned ST Telemedia (STT) has acquired a majority stake in Singapore-based cloud computing agency, Cloud Comrade.
STT is an investor specialising in communications, media and expertise companies.
The most recent injection of funds into Cloud Comrade is ready to convey complementary functionality and market attain to STT’s current portfolio, and improve STT’s multi-cloud, managed service capabilities in Asia, the businesses stated in a joint assertion on Thursday (Jan 24).
With STT as an investor, Cloud Comrade can leverage STT’s experience, sources, worldwide community and rising portfolio of infrastructure software program options to pursue market alternatives, speed up buyer growth, and improve buyer choices, the businesses added.
Established in 2014, Cloud Comrade provides a spread of cloud IT companies from technique and design, to deployment or migration and administration of consumers’ IT infrastructure together with 24/7 monitoring, upkeep, backup and restoration. It additionally has a presence in Indonesia and Malaysia.
STT’s government vice-president of company improvement Ronald Totton stated: “Asian governments and corporations are embracing digital innovation and the cloud, driving demand for superior AI and cloud implementation companies which can be customised for his or her wants. STT’s acquisition of Cloud Comrade underscores our confidence within the potential of Asia’s digital transformation market.”
Cloud Comrade’s co-managing director, Andy Waroma stated STT’s community and experience will open up new enterprise alternatives and market segments that had been beforehand closed to the agency.
“We’re enthusiastic about basically altering our sport within the business, and look ahead to accelerating our development in Asia,” Mr Waroma added.
Lately, STT has been strengthening its digital and cloud capabilities throughout its portfolio, making important investments within the areas of knowledge centres and AI-driven companies targeted on cyber safety, large knowledge and managed cloud companies amongst others.
In January final yr, the group led a US$27 million funding into Bespin International, a cloud-focused managed service supplier primarily based in South Korea and China.
This got here shortly after it led a US$30 million funding spherical for digital expertise firm Instart in November 2017, and one other US$89 million spherical of fairness financing for cloud safety firm Armor in April 2017.