Israeli telecommunications provider Bezeq has announced that the Bezeq Group, through Bezeq International, has signed a memorandum of understanding for the purchase of 70 percent of the shares of the cloud computing company, CloudEdge, from its controlling shareholder, Softwatch.
The company's founders will continue to hold the remaining 30 percent of the shares.
CloudEdge was founded about four years ago and became one of the most significant entities in the field of public cloud computing, and a trusted Microsoft partner.
The company specializes in providing Microsoft's Azure, Office 365 and Cloud Security solutions to companies migrating to cloud computing. Within a four-year period the company had built up a significant customer base drawn from a range of sectors, including government ministries, finance, start-up companies and more.
For the past several months, the Bezeq Group has been promoting an initiative comprising the spin-off of Bezeq International, and the transformation of the Business Division, which specializes in the provision of ICT services to businesses, into a computing and integration company.
The purpose of the initiative was to set up a leading Israeli ICT services company that will focus on the sector's growth areas such as cloud solutions, information and cyber security, and data centre services, alongside traditional activities such as system and communication services integration.
The CloudEdge acquisition aims to complement and enhance Bezeq’s cloud computing capabilities. CloudEdge is comprised of technology companies specializing in mobile apps, Internet of Things (IoT), cloud computing, integration and more.