https://adgully.me/post/2252/e-enterprise-bespin-global-jv-to-empower-metap-with-cloud-services

e& Enterprise-Bespin Global JV to empower METAP with cloud services

Dubai: e& Enterprise has announced the successful formation of a joint venture (JV) with Bespin Global, known as "Bespin Global MEA." The JV officially commenced operations on May 25, 2023, offering public cloud managed and professional services in the Middle East, Turkey, Africa, and Pakistan (METAP) region.Under the terms of the agreement, e& Enterprise owns a majority stake of 65% in the joint venture, while Bespin Global holds a 35% ownership share. The formation of Bespin Global MEA marks an important milestone for both companies, solidifying their commitment to expanding their presence in the METAP market.In addition to the establishment of the JV, e& Enterprise has made a significant investment of USD 60 million in Bespin Global. This strategic investment has resulted in e& Enterprise acquiring a stake of approximately 10% in Bespin Global, strengthening the partnership between the two organisations.As of May 2023, the joint venture will be accounted for as a subsidiary of e& Enterprise. This integration allows for closer collaboration and synergy between e& Enterprise and Bespin Global, facilitating the delivery of enhanced cloud services and technology solutions to clients in the METAP region.With its expertise in cloud technology and digital transformation solutions, e& Enterprise is well-positioned to support the growth and development of Bespin Global MEA. The joint venture will leverage the combined strengths of both companies to provide comprehensive and tailored public cloud managed and professional services, catering to the unique requirements of businesses operating in the METAP region.By joining forces, e& Enterprise and Bespin Global aim to drive innovation, accelerate digital transformation, and empower organizations in the Middle East, Turkey, Africa, and Pakistan. The partnership reflects their shared vision of delivering exceptional cloud services and creating long-term value for customers across various industries.Photo by charlesdeluvio on Unsplash
https://adgully.me/post/1992/e-selects-oracle-cloud-to-shape-the-uaes-digital-future

e& selects Oracle Cloud to shape the UAE’s digital future

Dubai:  Oracle has announced that e&, one of the world’s leading technology and investment groups is scaling its cloud footprint to Oracle Cloud Infrastructure (OCI) Dedicated Region to support its business expansion and modernize the business applications. Under an agreement signed at the Oracle CloudWorld Tour in Abu Dhabi, the technology group will also explore migrating its global HR functions to Oracle Fusion Cloud Human Capital Management (HCM). With a 47 year legacy e& is a multinational technology and investment group serving 163 million customers in 16 countries across the Middle East, Asia, and Africa. OCI Dedicated Region brings the opportunity to use OCI’s public cloud benefits, services, and applications in e&’s data center that manages its core IT and network systems. This provides e& with a dedicated cloud platform to modernize, manage and automate critical OSS and BSS applications as part of a multi-year cloud transformation program. In addition, Oracle Cloud HCM will help e& to simplify HR processes, improve the employee experience, and deliver enhanced workforce insights.“e& is transforming its business to support our customers in a new world defined by digitalization and hyper-connectivity. As we we continue to grow, we need to consolidate and simplify our technology infrastructure to make us more agile and adaptable, and this is where our collaboration with Oracle comes in,” said Khalid Murshed,Chief Technology & Information Officer, etisalat by e&. “OCI Dedicated Region enables us to bring Oracle’s entire portfolio of public cloud services into our own data centers while keeping full control of our data governance, giving us the operational agility and scalability we require to support the rapid growth and diversification of our business.”With OCI Dedicated Region, e& will have access to Oracle’s 100 plus cloud services on-premise to accelerate innovation across ArtificaI Intelligence (AI) and to support and scale its existing services. In addition, e& will be able to retain full control of its data and applications to help it address the UAE’s security, regulatory and data residency requirements while reducing operational costs. The collaboration is part of a long-term initiative by e& to consolidate the technology infrastructure that underpins its business and operational systems into a shared, open-standard platform designed to support its growing digital services portfolio, including new services around Internet of Things (IoT) and 5G.“OCI Dedicated Region provides OCI services in a self-contained, independent cloud region in a physical location of the customer's choosing. e& can scale applications and services quickly while retaining control of their data to help meet data residency requirements,” said Nick Redshaw, senior vice president, Technology, Middle East and Africa, Oracle. “Oracle installs, operates and supports OCI Dedicated Regions in the same way we support OCI public cloud regions worldwide. This unique capability enables e& to lift and shift legacy workloads to the cloud at their own pace, increase the pace of innovation and lower costs.“With Oracle Cloud HCM, e& will be able to connect human resource processes —and people —across the organisation and create a truly connected community where people feel valued and heard”, said Leopoldo Boado Lama, senior vice president – Business Applications , ECEMEA, Oracle. “The implementation will also help e& align business strategy with the human resource function, reduce compliance risk, and deploy the workforce with greater control through a fully integrated solution that links time, labor, and leave management with payroll, financial, and personnel data.”Oracle Cloud HCM will provide e& with an HCM system that connects processes across the employee lifecycle, including recruiting, workforce management, and payroll services, helping to improve decision-making and reduce operational costs. With infused AI, digital assistants, and hundreds of new capabilities added each quarter, Oracle Cloud HCM will also help e& to keep up with the latest technology advancements and HR best practices.Oracle Advanced Customer Services (ACS) will manage the Oracle OCI Dedicated Region implementation.
https://adgully.me/post/1986/e-enterprise-to-acquire-a-majority-stake-in-beehive

E& enterprise to acquire a majority stake in Beehive

Dubai: e& enterprise, part of e&, announced the signing of a binding agreement to acquire a majority stake in Beehive, MENA’s leading peer-to-peer digital platform to tap into opportunities in the Small and Medium Enterprise (SME) lending market.Beehive, founded in 2014, leads the crowdfunding platform space in the UAE, with operations in KSA and Oman. It connects creditworthy SMEs seeking finance with investors, both private and institutional, offering conventional as well as Sharia compliant loans. The company recently reached the milestone of facilitating over AED 1.5 billion worth of loans.With this acquisition, e& enterprise will be able to provide an innovative lending solution to address the $250 billion SME credit gap1 across the GCC region combining its strong brand positioning with a Fintech platform. This also marks the next step in e& enterprise’s expansion as the move demonstrates its commitment of opening new avenues of growth across the UAE and in the region, while enabling Beehive to scale its business and expand its offerings.The acquisition is in-line with UAE’s National Agenda for Entrepreneurship which aims to establish the country to become an entrepreneurial nation by 2031.Salvador Anglada, CEO, e& enterprise commented: “The acquisition of Beehive’s digital lending platform marks the second step in e& enterprise’s journey in the Fintech space, after the launch of UAE Trade Connect in 2021. SMEs are important drivers of the economy and there is a need more than ever to support their unique financing needs. With Beehive, we have the right technological innovation to accelerate on our agenda in the UAE and beyond.”Craig Moore, Beehive’s Founder & CEO added “This strategic alignment presents a huge opportunity to increase and accelerate financing to SMEs across the region. The market leading brand, reach and vision of e& and e& enterprise allows Beehive to drive more innovation and collaboration into the market. As one of the very first regional Fintech’s, this is a validation of the Beehive team’s incredible effort over the last 9 years and reflects the vibrancy and success of the UAE’s start up ecosystem.”Traditional lending to SME’s is paper-intensive and relies on collateral and guarantees. Fintechs and alternative lenders have recently stepped into this space introducing advancements such as one-time KYC, fast onboarding, and use of data-driven credit scoring. The regulatory structure is also evolving rapidly in the region, fostering a conducive environment for both liquidity providers and borrowers.
https://adgully.me/post/1965/e-reports-consolidated-revenue-of-aed-130bln-in-q1-2023

e& reports consolidated revenue of AED 13.0bln in Q1 2023

Dubai: e&’s consolidated revenues reached AED 13.0 billion. At constant exchange rates, revenue increased by 6.6 per cent. Consolidated net profit recorded AED 2.2 billion while consolidated EBITDA reached AED 6.2 billion, resulting in an EBITDA margin of 48 per cent.In the UAE etisalat by e& recorded 13.9 million subscribers an increase of 6 per cent compared to the same period of last year, The Group’s aggregate subscribers reached 164 million, a YoY increase of 3 per cent.The Group's focus on expanding its digital offering and launching innovative new solutions and partnerships with leading technology companies around the world as part of its drive to become a global technology player has driven business growth.Through a series of prudent mergers and acquisitions, e& is strengthening its position focused on delivering innovative solutions and driving digital transformation.The financial performance in Q1 2023 further strengthened e &'s global position as the most valuable telecoms brand portfolio in the Middle East and Africa, according to 2023 Brand Finance, while the Group's largest telecoms brand, etisalat by e&, continued to deliver outstanding innovative services as one of the three top telecoms brands in the world, and retained its position as the strongest telecom brand across all categories in the MEA region.Hatem Dowidar, Group CEO, e&, said: "The Group’s performance in the first quarter indicates growth in the number of subscribers, revenues, and profits in local currencies, but was impacted by the strong fluctuations in the currency exchange rate within the Egyptian and Pakistani markets. This growth can be attributed to the Group's flexibility and efforts to provide innovative business solutions and the latest technologies to the communities we serve. Furthermore, the Group has succeeded in building unique digital experiences supported by strategic investments, to enhance our business portfolio.“etisalat by e& Egypt and PTCL in Pakistan successfully achieved their strategic goals by enhancing their customers' digital experience while achieving growth based on local currency revenues, the strong fluctuations in the exchange rates of the Egyptian pound and the Pakistani rupee, coupled with the unprecedentedly high inflation rates in the two markets, have negatively impacted revenues and profits reported in AED. As a result, these effects were evident in the Group's consolidated results."With a vision to create a more progressive business model, we have continued to explore new avenues, expand our offerings and forge new partnerships. Our recent investment in Careem's Super App is another strategic step in our transformation into a global technology group by bringing more digital services into our customers’ daily lives.“We will continue to explore future technologies and develop new verticals that will accelerate digital transformation, positively impacting businesses and people’s lives while maximising value creation for our shareholders."Key operational highlights and developments for Q1 2023e&The Group recently signed a binding agreement with Uber Technologies, Inc ("Uber") and its subsidiary Careem to acquire a majority stake in Careem's Super App spinout with an investment of $400 million, as part of e&'s strategic ambition to expand its digital consumer offering and accelerate its transformation into a global technology and investment group.e& has successfully completed the acquisition of ServiceMarket, expanding the range of digital services on the Smiles online marketplace and offering more everyday services to its customers. It has further strengthened its global positioning this year, being recognised as the most valuable telecoms brand portfolio in the MEA region, worth over $14 billion, according to the 2023 Brand Finance Global 500 Report.e& has taken further steps in the use of cutting-edge technologies by partnering with E-Space to develop satellite-based cloud-native digital and IoT solutions optimised with edge AI to maximise the value of borderless smart connectivity and digital solutions across land, sea, and air applications.The Group has also partnered with Intel to focus on the deployment of edge data centres with a focus on a net zero carbon footprint, incorporating the latest 4th generation Intel Xeon Scalable processors.In addition, e& also announced its intention to integrate Microsoft Azure OpenAI GPT into its internal operations and processes, as well as a potential service to improve the customer experience and support the media industry in its daily tasks. etisalat by e&The telecoms arm of e& maintained its position as the strongest telecoms brand in any category in the MEA region this year, achieving a score of 89.1 out of 100 and an AAA rating. It was also ranked in the top three telecoms brands globally according to the 2023 Brand Finance Global 500 report.Embracing digital experiences and cutting-edge solutions, etisalat by e& teamed up with Samsung to extend the existing partnership beyond smart devices and collaborated with Huawei to successfully deploy and test the 5G Portable Private Network MEC (Multi-access Edge Computing) functionality.etisalat by e& also announced the implementation of the first 5G SatComs in the region with the EUTELSAT QUANTUM satellite solution to extend 5G network capabilities on a software-defined satellite and to meet future applications that require higher throughput.To provide the best innovative solutions, etisalat by e& opened a new Mobile Security Operation Centre (MSOC) in collaboration with the UAE Cybersecurity Council to provide business customers with real-time protection services to safeguard mobile phones from malicious attacks. etisalat by e& also deployed the private Microsoft Azure Multi-access Edge Compute (MEC) solution for enterprises as one of the first operators in the MENA region.e& internationale& international continued to drive its portfolio of telecom and digital assets while focusing on higher resilience in a challenging macro-economic environment. This included an acute focus on adapting existing business parameters to new realities, as well as, focusing on diversification of the product portfolio in order to generate new digital revenue streams, and maintaining leadership in customer experience.e& international OpCos continued to relentlessly improve their customer experience and most achieved number one position in their markets in the quarter. It also launched the ‘e& partner networks’ to support the growth of global telecom operators, offering access to market best practices, cutting-edge services, and the benefits of e&'s scale to telecom operators around the world.Tunisie Telecom became the first company to join the ‘e& partner network’ programme, supporting the future growth of the Tunisian national operator.etisalat by e& in Egypt partnered with the Sovereign Fund of Egypt (TSFE) to launch a new fintech company, ‘Erada Microfinance’ with the aim of enabling a wide range of financial services for micro and small enterprises. In line with e&’s aim to enable a greener future, it deployed a Smart Connected Site solution, which will allow e&’s subsidiary in Egypt to reduce fuel costs and CO2 emissions by up to 40 per cent as well as decrease reliance on fossil fuels.PTCL and Vodafone have initiated a strategic collaboration to develop and deliver a full suite of end-to-end IoT services aimed towards accelerating enterprise digital enablement and improving the adoption of connected services in Pakistan.e& lifee& life made more innovative solutions and services available to its customers to help them in their daily lives. Its fintech arm and financial Super App e& money partnered with Mastercard to enable payments worldwide via an exclusive prepaid card, offering the flexibility and convenience of using both virtual and physical cards, and becoming the first issuer supported by a telecom operator in the UAE.evision, the media and entertainment arm of e&, has launched the 24/7 GolfLife channel to broadcast live golf in the region and has acquired exclusive MENA rights to the PGA TOUR, the DP World Tour, the Ryder Cup, the Presidents Cup, and cricket's most anticipated event, the TATA Indian Premier League 2023. evision successfully launched OTT platforms in Pakistan with SHOQ TV for PTCL and TWIST TV for Etisalat Egypt by e&. evision also secured a strategic agreement for StarzPlay and e& OpCos with WATCH IT, a leading video-on-demand for Arabic content.e& enterpriseLeading the digital transformation journey across the business sector, e& enterprise has achieved remarkable milestones by going the extra mile to deliver the best technologies that empower businesses across the region.The company has launched its Sustainability As-a-Service offering to help businesses in their sustainability journey by partnering with Microsoft to implement the Microsoft Sustainability Manager as a key component of the proposition.Help AG, the cybersecurity arm of e& enterprise, launched its new SaaS platform UNIFY to integrate with the ever-evolving cybersecurity technology landscape and deliver a seamless, unified customer experience.e& enterprise IoT & AI joined hands with Mohammed Bin Rashid Space Centre (MBRSC) with an aim to explore the opportunity to develop a commercial model to take MBRSC’s models and predictions to the market also enabling e& enterprise to leverage the space centre's expertise in AI and predictive models, while the Centre will benefit from the former’s resources and capabilities. e& capitalThe tech investment arm of e& led a pre-series C round raising $10 million for almentor, a leading online video learning platform in Arabic. The proceeds will be used to accelerate almentor’s growth towards its goal of serving ten million learners in the MENA region and use the funds to increase its investment in the B2C segment while expanding into Saudi Arabia.
https://adgully.me/post/1071/e-enterprise-forms-joint-venture-with-bespin-global

e& enterprise forms joint venture with Bespin Global

 e& enterprise, part of e& (formerly known as Etisalat Group), today announced the signing of a binding agreement to form a joint venture with Bespin Global, a leading public cloud managed services provider. The joint venture will be branded “Bespin Global MEA, an e& enterprise company”, focusing on offering public cloud managed and professional services to serve the customers in the Middle East, Turkey, Africa and Pakistan (METAP).The JV will be 65 percent owned by e& enterprise and 35 percent by Bespin Global. Both e& enterprise and Bespin Global will contribute their existing public cloud businesses and related professional and managed services from the region to the JV. e& enterprise will be making a primary investment of $60 million in Bespin Global and join its Board of Directors. In addition, e& enterprise has the option to invest another $60 million within a period of 18 months from completion of the transaction. Both shareholders will contribute growth capital to the JV.The joint venture will leverage on the capabilities of both companies. e& enterprise will provide strong local market presence and its broad portfolio of digital transformation solutions. Bespin Global will provide deep expertise in cloud migration, cloud operations, cloud native application development, cloud optimisation and cloud billing. The joint venture will provide a one-stop cloud solution to help enterprises in its digital transformation journey.As a part of the agreement, e& enterprise will also invest in Bespin Global’s holding company. Bespin Global is one of the fastest growing cloud managed service providers serving over 1,700 customers from its locations in South Korea, China, Japan, Singapore, Vietnam, Indonesia, and the US. Bespin Global has been recognised as ‘Visionary’ in the Gartner MQ for the Public Cloud IT Transformation Services category, and has over 1,000 cloud experts across AWS, Microsoft Azure, Google Cloud and other cloud platforms.The total investment and future commitments announced today are worth over $100 million.Salvador Anglada, CEO of e& enterprise, said, "e& enterprise always works closely with customers to maximise their digital potential by designing, delivering and operating impactful, intelligent and secure end-to-end digital solutions. The joint venture with Bespin Global and the investment in the holding company are part of our ongoing efforts to extend our cloud offerings and establish our commitment as a trusted partner to governments and enterprises in the UAE.”John Hanjoo Lee, CEO and Co-founder of Bespin Global, said, “Bespin Global is very excited to partner with e& enterprise in the METAP markets as our enterprise customers accelerate their digital transformation. The joint venture between Bespin Global and e& enterprise will leverage capabilities that will help build the future of cloud business. In addition, we welcome e& as an investor in Bespin Global and appreciate their confidence in our strategy and operations. We look forward to accelerating our growth plan and profitably expanding our operations globally.”"The partnership with Bespin Global will allow e& enterprise to offer the right mix of cloud services based on customer needs, including cloud consulting, migration and managed services," said Miguel Villalonga, CEO of e& enterprise Cloud. "This will open up a plethora of opportunities in the public cloud space, especially as its deployment plays an integral role in many public and private sector projects today. With e& enterprise's reach across several sectors, particularly governments and large enterprises, and their needs set to accelerate, it is essential to leverage best-in-class capabilities to be able to capitalise on growth opportunities."Mouteih Chaghlil, CEO of Bespin Global MEA, said, “This joint venture brings together the comprehensive public cloud technologies and services of both parties to expand our geographic footprints and accelerate digital transformation and cloud adoption across the METAP region. Our employees are excited about the new venture, and we welcome our new colleagues to the joint venture. We are committed to building our company as not only the best cloud partner to our customers but as the best place to work for cloud experts. With e& enterprise’s support, we will create a more efficient customer experience through the cloud and advance our business goals while empowering METAP’s organisations and talent to reap the commercial advantages of being cloud-ready.”Cloud growth will increase with the rising adoption of technologies such as IoT, edge computing, 5G, and real-time analytics enabled by AI and Machine Learning (ML). With this joint venture, e& enterprise can leverage Bespin Global MEA's capabilities to serve multiple parts of the cloud value chain.