12 December 2022
BDA advises Bespin Global on capital raise from e& enterprise
Series D capital raise
BDA Partners is pleased to announce that its client, Bespin Global, has raised US$60m in Series D funding from e& enterprise.
e& enterprise was formerly known as Etisalat, and is part of Emirates Telecoms Group, one of the world’s leading technology and investment conglomerates.
BDA was the exclusive financial advisor to Bespin on the Series D transaction.
In addition, e& enterprise will acquire an option to invest another US$60m within 18 months of the completion of the transaction. Bespin and e& enterprise also announced a binding agreement to form a joint venture offering public cloud managed and professional services to customers in the Middle East, Turkey, Africa, and Pakistan (METAP).
Bespin is a leading Korea-based, global, cloud managed service provider, offering software services, cloud distribution, management, and a SaaS platform. It has achieved rapid revenue growth by building a strong customer base and partnerships with major global cloud providers. Bespin has over 1,700 customers and 1,000 employees globally.
Etisalat is one of the leading telecom companies in the emerging markets, headquartered in UAE. It has provided services to 162 million subscribers in 16 countries across the Middle East, Africa and Asia with US$14.5bn revenue in 2021. Etisalat maximizes value through its end-to-end solutions in cybersecurity, cloud, Internet of Things (IoT) and Artificial Intelligence (AI), as well as deploying mega projects, to enable the digital transformation of governments, large-scale enterprises, and corporates.
Howard Lee, Partner and Head of Seoul at BDA, said: “We’re delighted to have advised Bespin on the capital raise and strategic initiatives to support its next phase of growth.”
Jeff Acton, Partner and Head of Technology at BDA, said: “Bespin is a leader in cloud transformation using SaaS and other advanced technologies to achieve high levels of automation. We’re proud to have advised Bespin on this important transaction. We see many more opportunities developing in the high-growth cloud sector in Asia.”
About Bespin Global
Bespin Global is a comprehensive cloud migration service provider to over 1,700 enterprises in Korea and overseas including China, UAE, the US, and Singapore. Its MSP service has a strong market share in Korea, as a top 2 player, and is continuously expanding its client spectrum to global regions and to government institutions. Bespin has built partnerships with AWS, Google Cloud, and Microsoft Azur. Its main business comprises cloud marketplace (resale), cloud consulting (PS), cloud managed services (MSP), and cloud management platform (SaaS). https://www.bespinglobal.com/
About e& enterprise
e& enterprise is the largest telecoms corporation in the GCC. Headquartered in Abu Dhabi UAE, the Company serves 11.6 million customers and over 300,000 small, medium and large enterprises and government customers in the UAE. e& enterprise (formerly known as Etisalat Group) is one of the world’s leading technology and investment conglomerates. Founded in Abu Dhabi more than four decades ago as the UAE’s first telecoms company, the group now operates in 16 countries across the Middle East, Asia and Africa. e& provides innovative digital solutions, smart connectivity and next-generation technologies to varied customer segments through its business pillars: etisalat by e&, e& international, e& life, e& enterprise and e& capital. https://eand.com/
About BDA Partners
BDA Partners is the global investment banking advisor for Asia. We are a premium provider of Asia-related advice to sophisticated clients globally, with over 25 years’ experience advising on cross-border M&A, capital raising, and financial restructuring. We provide global reach with our teams in New York and London, and true regional depth through our seven Asian offices in Mumbai, Singapore, Ho Chi Minh City, Hong Kong, Shanghai, Seoul, and Tokyo. BDA has deep expertise in the Chemicals, Consumer & Retail, Health, Industrials, Services and Technology sectors. We work relentlessly to earn our clients’ trust by delivering insightful advice and outstanding outcomes.
BDA Partners has strategic partnerships with William Blair, a premier global investment banking business, and with DBJ (Development Bank of Japan), a Japanese Government-owned bank with US$150bn of assets. bdapartners.com
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