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STC invests USD 500 mln in cloud services with Alibaba and eWTP Arabia Capital

Wednesday 30 December 2020 | 13:48 CET | News
Saudi Telecom Company (STC) has announced an investment of around USD 500 million in cloud services in partnership with eWTP (electronic World Trade Platform) Arabia Capital, and Alibaba Cloud. It said eWTP Arabia Capital is one of the largest venture capital funds in the region, and that Alibaba Cloud is the digital technology and intelligence backbone of Alibaba Group. Through the project, STC aims to reinforce its digital infrastructure and use Alibaba Cloud's technologies and services to accelerate the growth of the local technology ecosystem.

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Categories: Fixed
Companies: Alibaba / STC
Countries: Saudi Arabia
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