BDA advises Bespin Global on capital raise from e& enterprise

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.”