ST Telemedia leads US$27 million investment into Bespin Global
- Asia's cloud management leader raises fresh capital from ST Telemedia
SEOUL, SOUTH KOREA, and BEIJING, CHINA, 31 January 2018 – Bespin Global, a cloud management company helping enterprise customers in Korea and China with cloud adoption, announced that it has closed US$27 million in new investment led by ST Telemedia (STT), who has been actively investing in technology infrastructure and infrastructure software companies. With the fresh capital, Bespin Global will further accelerate the development of its cloud management platform and help more Asia-based customers migrate from legacy IT to the cloud IT. This investment in Bespin also advances STT’s focus on building a leading independent next generation enterprise services platform.
Bespin Global helps enterprise customers move their legacy IT operations to the cloud, use cloud effectively and use cloud to power their digital transformation. “We are extremely pleased to partner with ST Telemedia, who is not only one of the most prominent investors in technology infrastructure and enterprise software today, but also a company with significant operating expertise and deep understanding of the cloud industry,” said John Hanjoo Lee, CEO and co-founder of Bespin Global. “Over 190 enterprise customers, including some of the largest companies in the world, trust Bespin Global with their private and public cloud operation today. As we expand our customer coverage and enhance our software and services focused on performance optimisation, security and cost savings, we look forward to working with STT in all aspects of business.”
Ronald Totton, Executive Vice President of STT, will join Bespin’s board of directors. Mr. Totton said: “This investment in Bespin Global underscores STT’s continued focus on strengthening our infrastructure software portfolio. We are impressed by the completeness of Bespin’s vision as well as track record in providing compelling value propositions to some of the largest companies in the world. We believe that demand for cloud services and software will continue to grow quickly in Asia and enterprises will want to work with experienced solution providers such as Bespin Global. STT and Bespin Global have much in common and we look forward to building a successful partnership together,” he commented.
Concurrent with STT’s investment in Bespin Global, the two companies have signed a Business Cooperation Agreement to foster wide-ranging business collaboration including joint development and cross-selling of products and services and sharing of best practices, branding, marketing, positioning, and joint service platforms.
The US$27 million investment included participation and support from existing investors in Bespin Global. Joon Sung Park, board member of Bespin Global and Partner of Legend Capital, said: “We believe in the Bespin Global story more than ever. Bespin is unique in that it successfully operates as a fully localised company anywhere it operates, including in China. We are impressed that they have attracted world-class customers and employees in China, and look forward to deepening our relationship with them.”
More information about Bespin Global can be found at http://en.bespinglobal.com.