Temasek-owned ST Telemedia has acquired a majority stake in India-incorporated cloud service provider CloudCover, following an investment of an undisclosed value.
CloudCover also has a presence in South-east Asia. It harnesses cloud technology with an automation-driven approach, the telecom investment arm of Singapore investment company Temasek said yesterday.
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. It will also develop products and services that automate and enhance cloud management and data engineering services and operations.
The investment follows ST Telemedia's majority-stake investments in US cloud service provider 2nd Watch in November last year and Singapore-based cloud computing firm Cloud Comrade in November 2018.
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.
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 cyber security, big data and IT operations.
THE BUSINESS TIMES