Ashurst represented Bespin Global in Strategic Joint Venture with e&
Ashurst, a renowned global law firm, guided Bespin Global and e& throughout the successful formation of their joint venture, as initially announced in December 2022. The transaction's completion was contingent upon meeting specific regulatory and commercial requirements, which the parties worked collaboratively to fulfil from the time of the announcement.
During the closing phase, e& made a $60 million investment in Bespin Global, with an additional option to invest another $60 million within 18 months following the closing date. Both parties contributed their respective existing public cloud businesses, along with associated professional and managed services from the region, to the joint venture. The total value of investments and future commitments resulting from this transaction exceeds $100 million.
The joint venture will capitalise on the strengths and capabilities of both companies. e& brings a robust local market presence and an extensive portfolio of digital transformation solutions. Meanwhile, Bespin Global offers profound expertise in cloud migration, cloud operations, cloud-native application development, cloud optimisation, and cloud billing. Together, the joint venture aims to deliver a comprehensive cloud solution, acting as a one-stop destination for enterprises seeking assistance in their digital transformation endeavours.
Bespin Global has emerged as a rapidly expanding cloud-managed service provider, catering to more than 1,700 customers across various regions, including South Korea, China, Japan, Singapore, Vietnam, Indonesia, and the US. The company has gained recognition as a 'Visionary' in the Gartner Magic Quadrant for Public Cloud IT Transformation Services. With a team of over 1,000 cloud experts proficient in AWS, Microsoft Azure, Google Cloud, and other cloud platforms, Bespin Global possesses substantial expertise and resources to meet the diverse needs of its clients.
Corporate partner Simon Rahimzada spearheaded the Ashurst team, ensuring the successful execution of the joint venture. Assisting him were senior associate Matt Hartsuyker and associate Valerie Tay, who provided valuable support throughout the transaction process.