Singapore-based investment firm Temasek’s SBU ST Telemedia have acquired a majority stake in Cloud Comrade to boost their multi-cloud capabilities. The acquisition, ST Telemedia says, seeks to expand their reach across the emerging cloud markets in Malaysia and Indonesia after their governments started embracing digital transformation.
According to ST Telemedia, the APAC region is growing as a market for cloud services and enterprises are utilizing the same to accelerate workloads. They say that the region has undergone a massive change, ever since the governments and enterprises of APAC countries realized how cloud as technology boosts productivity.
By acquiring Cloud Comrade, ST Telemedia claim that their monitoring, recovery, backup and migration capabilities will receive a huge boost. They believe that ST Telemedia will not only be able to extend their offerings but also transform their entire product suite into a multi-cloud powerhouse.
Andy Waroma, co-Managing Director at Cloud Comrade stated that the acquisition will open up new business opportunities and market segments for both entities that were previously closed. He also says that the acquisition will fasten their growth story in the APAC market.
Analysts claim that ST Telemedia