SINGAPORE (Oct 10): Temasek-owned ST Telemedia (STT) has entered into a definitive agreement to make a strategic investment for a controlling interest in cloud service provider 2nd Watch.
Seattle-based 2nd Watch is an AWS Partner Network Premier Consulting Partner and a Microsoft Azure Gold Partner.
In a statement on Thursday, STT says all existing shareholders of 2nd Watch – including Madrona Venture Group, Columbia Capital and Delta-v Capital – will continue to retain a significant shareholding in the company following the investment.
However, STT did not disclose how much it is investing for the controlling stake in the firm, which is viewed as the leading US provider for professional and managed services.
Founded in 2010, 2nd Watch offers managed cloud services to some of the world’s leading brands, providing strategy consulting, assessments, designs, migrations, security assessments, and management of clients’ IT infrastructure that resides in hybrid cloud environments.
STT says the transaction provides 2nd Watch with the ability to accelerate international expansion, deliver a broader set of infrastructure software solutions and thereby enhance the end-to-end client experience.
The addition of 2nd Watch will also expand and strengthen STT’s managed cloud services capabilities.
Over the past few years, STT has made significant investments in data centres and AI-driven, cloud-centric businesses focused on cybersecurity, big data, IT operations, customer digital experiences and managed cloud services.
Through wholly-owned subsidiary ST Telemedia Global Data Centres, STT has also built a global data centre platform comprising over 90 facilities in more than 16 major business markets.
“ST Telemedia has extensive experience in helping companies accelerate their global scale and reach and successfully operate in multiple regions. We have been solidifying our capabilities across the cloud space and are excited to take a majority position in 2nd Watch,” said Stephen Miller, President and Group CEO of STT.
“Our strategic investment in 2nd Watch furthers our objective of building one of the world’s leading managed cloud services platforms. We intend, with this investment, to build synergies across customers, partners and the digital ecosystem and accelerate our value add toward the digital transformation of enterprises,” adds Nikhil Eapen, Deputy CEO and Chief Investment Officer of STT.
