ST Telemedia leads US$27 million investment into Bespin Global

SEOUL, South Korea and BEIJING, Jan. 31, 2018 /PRNewswire/ -- 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 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."

Concurrent with STT's investment in Bespin Global, the two companies have signed a Business Cooperation Agreement to fosterwide-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.

ABOUT ST TELEMEDIA

ST Telemedia (STT) is an active investor in the Communications, Media and Technology (CMT) space. Focused on catalysing growth and creating sustainable value for its stakeholders, STT has built a strong portfolio of complementary assets and businesses across the digital value chain. With decades of experience investing in, building and operating CMT businesses across the globe, STT has a proven track record in helping its investments grow and succeed. For more information, please visit www.sttelemedia.com

ABOUT LEGEND CAPITAL

Legend Capital was founded in 2001 and is the venture capital arm of Legend Holdings, one of the largest diversified holding corporations in China. The company specializes in early-stage and expansion-stage capital investments in Chinese and China-related innovation and growth enterprises.

ABOUT BESPIN GLOBAL

Bespin Global is a cloud MSP dual headquartered in Korea and China. Bespin Global helps businesses adopt and operate their IT on public and private clouds by combining unique set of services and software. The Professional Services group provides cloud architecture, migration and cloud strategy consulting services. The Managed Services group offers 24x7 monitoring, triage, and ongoing optimization services. The OpsNow group develops and markets a SaaS product that automates much of cloud IT operations and cost management on multi cloud environment. Bespin Global's team of over 300 employees are experts in Amazon Web Services, Microsoft Azure, Aliyun, Google Cloud Platform, IBM Softlayer, and private clouds based on VMWare, Openstack, and Microsoft Azurestack. With offices in Seoul, Beijing, and Shanghai, Bespin Global has gained the trust of over 190 corporate and government clients since its founding in October 2015. In April 2017, the Company was named to the Gartner's Hyperscale Cloud MSP Magic Quadrant.

SOURCE Bespin Global