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Temasek's ST Telemedia nabs majority stake in India cloud services firm
TEMASEK-OWNED ST Telemedia has acquired a majority stake in India-incorporated cloud service provider CloudCover, following an investment with an undisclosed value.
Incorporated in India in 2015, CloudCover also has a presence in South-east Asia. It harnesses cloud technology with an automation-driven approach, the telecom investment arm of state investor Temasek said on Tuesday.
The cloud firm also focuses on technology unicorns and agile enterprises embracing "true cloud-native technologies" that go beyond traditional cloud migrations and managed services.
With ST Telemedia as a strategic investor, CloudCover will accelerate its market expansion and talent acquisition. CloudCover will also develop products and services which automate and enhance cloud management and data engineering services and operations.
The investment in CloudCover follows ST Telemedia's majority-stake investments in US cloud service provider 2nd Watch in November 2019 and Singapore-based cloud computing firm Cloud Comrade in November 2018.
2nd Watch provides professional and managed services related to the private cloud. Meanwhile, Cloud Comrade is an Amazon Web Services and Google Cloud Platform Premier partner and Microsoft Azure Gold partner.
CloudCover brings its cloud-native technological capabilities and provides ST Telemedia access to the India market. The investment also advances ST Telemedia's ambition of building a global cloud IT platform, the statement said.
Together, these investments form the ST Telemedia Cloud IT business and will also leverage other investments in artificial intelligence-driven infrastructure technology businesses focusing on cybersecurity, Big Data and IT operations.
"CloudCover takes us closer to our goal of building one of the world's leading Cloud IT (information technology) platforms to help governments and enterprises embrace digital innovation and the cloud," said ST Telemedia deputy chief executive and chief investment officer Nikhil Eapen.