ST Telemedia, a Singapore-headquartered investor in the communications, media, and technology (CMT) space, has acquired a majority stake in CloudCover, a cloud-native service provider with presence in Southeast Asia and India.
The investment into CloudCover follows the completion of STT Telemedia’s majority-stake investments in November 2019 of 2nd Watch and in November 2018 of Cloud Comrade.
STT Telemedia said the investment in CloudCover enhances its STT Cloud IT portfolio with a leading cloud-native service provider in Asia with advanced technological capabilities.
Incorporated in 2015 in India with headquarters in Singapore, CloudCover provides advanced DevOps, data engineering, and cloud-native consulting, and already has the Analytics Specialisation on GCP and the DevOps Competency on AWS.
CloudCover’s primary delivery center is in Pune, India and has sales offices in several other cities. CloudCover has well over 100 employees, all of whom are focused on cloud-native technology across DevOps, Data & APIs.
“The addition of CloudCover to our portfolio is key, especially with CloudCover’s obsession with product, automation, and cloud-native technologies. CloudCover takes us closer to our goal of building one of the world’s leading Cloud IT platforms to help governments and enterprises embrace digital innovation and the cloud,” said Nikhil Eapen, Deputy CEO & Chief Investment Officer of STT.
Vishal Parpia, Co-Managing Director of CloudCover said STT’s vision of what cloud-native means to companies around the world lines up perfectly CloudCover’s.
“Joining forces with them was an obvious choice. Their willingness to collaborate and nurture is exactly what CloudCover needs to accelerate at this point,” Parpia said.
ST Telemedia is a strategic investor specializing in communications and media, data centers, and infrastructure technology businesses across Asia, the US, and Europe. STT, through wholly-owned ST Telemedia Global Data Centres, has built a global data center platform comprising over 90 facilities in more than 16 major business markets.
The investment comes as the global artificial intelligence for the telecommunications market was valued at around US$651 million in 2017. The market is forecast to accelerate at a rate of more than 42 percent until 2025.